Kind: captions
Language: en
There<00:00:00.200> is<00:00:00.360> no<00:00:00.520> free<00:00:00.720> pizza.<00:00:01.040> There's<00:00:01.240> no<00:00:01.400> free
There is no free pizza. There's no free
beer.<00:00:02.400> When<00:00:02.560> somebody<00:00:02.920> like<00:00:03.080> Sam<00:00:03.320> Altman
beer. When somebody like Sam Altman
comes<00:00:03.800> to<00:00:03.880> you<00:00:03.920> and<00:00:04.040> says,<00:00:04.240> "Here's<00:00:04.520> some<00:00:04.720> free
comes to you and says, "Here's some free
tokens."<00:00:06.280> your<00:00:06.600> alarm<00:00:07.000> should<00:00:07.160> go<00:00:07.320> up.<00:00:07.840> If<00:00:08.080> you
tokens." your alarm should go up. If you
follow<00:00:08.600> the<00:00:08.720> Microsoft<00:00:09.480> example,<00:00:09.920> Lotus
follow the Microsoft example, Lotus
1-2-3,<00:00:11.080> WordPerfect,<00:00:11.800> whoever<00:00:12.000> their
1-2-3, WordPerfect, whoever their
partners<00:00:12.600> they<00:00:12.760> were<00:00:12.880> replaced<00:00:13.960> with<00:00:14.280> Excel.
partners they were replaced with Excel.
They<00:00:14.920> were<00:00:15.040> replaced<00:00:15.680> obviously<00:00:16.080> with
They were replaced obviously with
Microsoft<00:00:17.040> Word.<00:00:17.360> You<00:00:17.440> don't<00:00:17.680> even<00:00:18.120> know
Microsoft Word. You don't even know
those<00:00:18.600> other<00:00:18.840> two.<00:00:19.080> That's<00:00:19.280> exactly<00:00:19.640> what
those other two. That's exactly what
they<00:00:19.800> have<00:00:19.880> to<00:00:19.960> do<00:00:20.040> and<00:00:20.120> they<00:00:20.200> have<00:00:20.360> no<00:00:20.560> choice
they have to do and they have no choice
but<00:00:21.080> to<00:00:21.200> do<00:00:21.360> that<00:00:21.600> now<00:00:22.240> because<00:00:22.840> they<00:00:23.200> have<00:00:23.640> a
but to do that now because they have a
trillion-dollar<00:00:24.360> market<00:00:24.680> cap.<00:00:24.960> They<00:00:25.080> must
trillion-dollar market cap. They must
win<00:00:25.680> the<00:00:25.800> application<00:00:26.400> layer<00:00:27.120> and<00:00:27.880> Sam<00:00:28.240> Altman
win the application layer and Sam Altman
went<00:00:29.120> to<00:00:29.280> Y<00:00:29.400> Combinator<00:00:30.320> and<00:00:30.440> he<00:00:30.520> said,<00:00:30.760> "We'll
went to Y Combinator and he said, "We'll
give<00:00:31.120> you<00:00:31.280> $2<00:00:31.880> million<00:00:32.240> worth<00:00:32.400> of<00:00:32.480> free
give you $2 million worth of free
tokens."<00:00:33.120> And<00:00:33.240> I<00:00:33.320> came<00:00:33.520> out<00:00:33.640> and<00:00:33.720> I<00:00:33.760> said,
tokens." And I came out and I said,
"Listen,<00:00:34.080> this<00:00:34.200> is<00:00:34.400> nothing<00:00:34.720> personal
"Listen, this is nothing personal
against<00:00:35.440> Sam.<00:00:36.240> Sam's<00:00:36.720> a<00:00:36.880> very<00:00:37.840> aggressive
against Sam. Sam's a very aggressive
deal<00:00:38.880> maker<00:00:39.640> and<00:00:39.800> he<00:00:40.000> wants<00:00:40.280> to<00:00:40.360> get<00:00:40.800> access<00:00:41.360> to
deal maker and he wants to get access to
those<00:00:41.920> startups<00:00:42.360> cuz<00:00:42.520> he<00:00:42.680> knows<00:00:42.920> having<00:00:43.280> run<00:00:43.520> Y
those startups cuz he knows having run Y
Combinator<00:00:44.640> that<00:00:44.800> if<00:00:44.920> he<00:00:45.040> can<00:00:45.200> get<00:00:45.480> their
Combinator that if he can get their
innovations,<00:00:46.440> those<00:00:46.720> founders'<00:00:47.120> latest
innovations, those founders' latest
thoughts<00:00:47.840> about<00:00:48.080> what's<00:00:48.320> around<00:00:48.600> the<00:00:48.680> corner,
thoughts about what's around the corner,
he<00:00:49.320> can<00:00:49.440> incorporate<00:00:49.920> them<00:00:50.040> into<00:00:50.160> the
he can incorporate them into the
platform."<00:00:50.840> Zuckerberg<00:00:51.480> did<00:00:51.680> the<00:00:51.760> same
platform." Zuckerberg did the same
thing.<00:00:52.120> He<00:00:52.240> said,<00:00:52.400> "Hey,<00:00:52.520> I'm<00:00:52.600> going<00:00:52.720> to<00:00:52.800> give
thing. He said, "Hey, I'm going to give
people<00:00:53.160> a<00:00:53.200> bunch<00:00:53.440> of<00:00:53.560> access,<00:00:54.000> going<00:00:54.120> to<00:00:54.200> give
people a bunch of access, going to give
them<00:00:54.480> money,<00:00:55.280> come<00:00:55.480> to<00:00:55.600> the<00:00:55.680> Facebook
them money, come to the Facebook
platform."<00:00:56.920> Nobody<00:00:57.320> who<00:00:57.440> went<00:00:57.640> to<00:00:57.720> bed<00:00:57.920> with
platform." Nobody who went to bed with
Microsoft<00:00:58.720> in<00:00:58.800> the<00:00:58.920> '80s,<00:00:59.280> Facebook<00:00:59.760> in<00:00:59.840> the
Microsoft in the '80s, Facebook in the
2000s,<00:01:00.880> or<00:01:01.080> Sam<00:01:01.400> Altman<00:01:01.760> now<00:01:02.400> in<00:01:02.640> in<00:01:02.800> the<00:01:02.920> 2020s
2000s, or Sam Altman now in in the 2020s
did<00:01:04.199> not<00:01:04.480> wake<00:01:04.720> up<00:01:04.960> with<00:01:05.080> their<00:01:05.239> throats<00:01:05.640> lit.
did not wake up with their throats lit.
This<00:01:06.440> is<00:01:06.560> a<00:01:06.640> message<00:01:07.000> to<00:01:07.080> founders.<00:01:07.840> If<00:01:07.960> you
This is a message to founders. If you
partner<00:01:08.400> with<00:01:08.560> any<00:01:08.760> of<00:01:08.840> these<00:01:09.000> people,<00:01:09.480> they
partner with any of these people, they
will<00:01:09.840> slit<00:01:10.080> your<00:01:10.200> throat<00:01:10.560> and<00:01:10.680> take<00:01:11.200> your
will slit your throat and take your
business<00:01:12.000> wholesale.<00:01:12.840> There<00:01:13.000> is<00:01:13.120> nothing<00:01:13.440> to
business wholesale. There is nothing to
discuss<00:01:13.920> here.<00:01:14.440> Don't<00:01:14.680> trust<00:01:14.960> them.<00:01:15.480> Use<00:01:15.720> your
discuss here. Don't trust them. Use your
own<00:01:16.120> models.