Walmart x ChatGPT: The Shopping Revolution Starts Here

[Music] Welcome to another episode of 4 Guys Talking About AI. We got half the crew today. We got two of us. Hey Greg, how are you? Hey Eddie, I'm good. Good, good. Neil and John couldn't make it today, but your fearless leaders are here. So I. Yeah. So it'll be half as long. It'll be half as long today. Well, say every other word. So a bunch of exciting things happened this week. I wanted to just unpack it for you here. This week we're diving into how AI is reshaping everything from shopping to browsers to billion dollar valuations. First up, Walmart teams up with Open AI to create the first AI shopping experience with Walmart where you can buy directly inside chat GPT. No website, no checkout page, just conversion. So a pretty cool experience there. We'll talk about that. Then Open AI is positioning itself as the new operating system for the internet with its Atlas browser app integrations, wearables are on the way, and experts warned that Atlas, their browser, could open up security risks. So we'll talk a little bit about where we are in this moment in time and some cool things about it and some risks as well. And then next responsive.io created a new report showing how B2B buyers are relying on AI to create self-service research, often helping them decide on which vendors to go with and how how their buyers are using AI in that kind of instance. And then finally the AI boom keep breaking records. In video hit $5 trillion in valuation this week. Apple and Google are over $4 trillion each. Microsoft announced a 27% stake in Open AI. They can make it the next trillion dollar IPO. So let's get into it. Let's start talking about some of these topics. Greg, let's talk about the Walmart deal with Open AI, creating the first AI shopping experience on Walmart and what that means for users and also for Walmart. That's a big deal I think a few weeks ago, Open AI announced what they're calling instant checkout, which is the ability to buy something on chat GPT for which chat GPT will get a fee. Their initial partners were Etsy and Shopify and now Walmart is joining. And from everything that I've seen in red, Walmart is very bullish on this and thinks that you know they're they're going to learn a lot probably through this partnership. And they have been very very progressive, very AI forward in implementing AI and various capacities with their associates and in their organization operationally. Walmart has a huge obviously huge inventory of products and it's an enormous that brings enormous brand credibility to this whole exercise. And I think it'll give consumers a lot of confidence that they'll be able to find products that they're interested in. Right now you can search for any product you want or compare products and it will refer you to third party stores. So it's this is not necessarily going to expand the inventory that chat GPT will talk to you about but it gives you the ability to buy on chat GPT of a lot more stuff than than was previously the case. And it creates a kind of a dilemma for Amazon. I mean I think you can buy stuff through you know you can do a search on chat GPT for example this afternoon my kids have stolen all the portable chargers we have. And so I mean it's like we used to have just a ton of them. Yeah we used to just have a ton of them. We kept them in a kind of a bin in the kitchen and slowly but surely they all started disappearing. And now like just there was a couple of crappy ones left. And so I thought oh I'm going to I've got a trip to a conference in Thailand coming up and I need a portable charger. So I went on to chat GPT and I looked you know what's the best rated portable charger that has these kind of specs. And you know it gave me a bunch of options and one of those was to go to I think I could click through to Amazon to to buy it on Amazon. But Amazon needs to decide well are we going to participate in this or not? And I can imagine that they're ambivalent about it because they would no longer own the customer experience. It would be them simply being a provider of you know commodity inventory information maybe the pricing is more aggressive. But it's it's a big deal and it gives the whole initiative chat GPT and check out I think a big boost. And we've really got to see it kind of materialize but I think I think it's it's going to be significant. I'll be quite a significant competitor in the market. Yeah and and while we're praying that you know customers and members of SAMS Club will be able to shop directly inside chat GPT. So just ask it what you need and using its instant check out feature in chat GPT you'll be able to buy these items that ever visiting a website. So that's that's the customer experience that you're talking about and naturally Amazon wants to own that customer experience. This disrupts that it puts a challenge to it. I think if you're Walmart you're you're kind of like I'll take transactions from wherever they come. They come from my website the app their affiliate their their stores of course. I think Walmart has a different approach to this and they're just moving product. Amazon is looking to like you're saying they're they're looking to also play some defense against their you know what it's like 50% of all e-commerce transactions happen on Amazon. So they're not they don't want that percentage to erode in any way and they certainly don't want to hand over the reins to open AI so that open AI because the front door. Right I mean I think that the institutional investors might not be happy about that if they yeah if they if they see any any metrics that indicate a loss of share or some erosion of volume on Amazon and you know Amazon for a time had a whole bunch of stores they had books they had four star they had they were they were testing out a clothing store in LA I believe and so they they had this initiative where they were building out a broader store network physical footprint and then they've rolled all that back and I think the only stores they have I mean maybe when they have the Amazon go those still exist but that's you know like a convenience store. The only stores that really exist anymore are the grocery stores and I think there's a material difference between Walmart with its with its you know nationwide network of stores sans club and Walmart stores and this becomes another distribution channel for them that doesn't really diminish their brand in any way whereas I think there's more vulnerability for Amazon because it's it's exclusively it's pretty exclusively an e-commerce company and if if chat GPT is delivering a better experience then why am I going to go to Amazon maybe I'll buy something on Amazon through chat GPT but I don't suddenly I'm not going to look at the Amazon ads anymore and I'm not going to read the reviews anymore and you know that kind of thing and Amazon just becomes a kind of a literal supplier of commodities right and I might not get prime anymore if I you know if I can just get the same price certainly price comparison inside chat GPT is going to be a big deal right you can just ask it like where can I find this item cheaper so yeah I totally agree with what you're saying there it's going to be interesting to see how that all plays out. I mean I mean it could it could be that we have you know Walmart Amazon chat GPT and the and the losers and all of this are sort of the you know some of the smaller retailers retailers that have their own destination sites we'll see that's that's another possibility that Amazon won't suffer it'll be it'll be these other third parties to do. Yeah and that's that's a good point you know I open AI just announced to deal with Shopify a couple weeks ago where if you have a Shopify store you can get the same kind of experience the same find your product on open AI on chat GPT and invite right there you wouldn't even never need to go to the website. You know somebody who who spent years and years and years focusing on kind of how the internet impacts local shopping and local businesses what's really interesting to me is the possibility that we would start to get like local inventory in here. Google Google was was battling against Amazon by trying to show a mix of ecommerce and you know sort of mostly big box inventory that was in stores but they but they haven't gone all in on it. It's not they haven't really promoted it they haven't fully committed to it in my mind and you know Shopify has a bunch of product in store inventory data and certainly Walmart does and so it would be really interesting if I could not only look for you know ecommerce options but I could try and figure out well who's selling this in my area you know where can I buy this in a physical store. I think that would be a very interesting addition to all of this. Now of course that would be problematic for the business model because they're getting a slice of a transaction but it would be really interesting from a user experience perspective. Yeah I mean in order for that to happen you've got to have all these local businesses provide structured data and and also real-time inventory kind of a system which you never I mean, open AI might just say, here you go. Here's your, here's your. system in order to plug into our ecosystem and our how would million you know soon be more users But I mean Walmart has that and Shopify has a bunch of their stores do have kind of low in-store inventory information You know and there are third-party companies Not as many as there used to be but there are third-party companies like Last mile retail and near street in the UK and there are probably some others SAP was working on this for a while where where they can tap into the POS system and they have ways to You know determine inventory which is a separate conversation But then they pump that out to different distribution points So it's much more doable today than it was five or ten years ago. I think yeah And I could also see you know closing the loop on what you just mentioned there is that If that happens and for companies to participate in this kind of inventory Connection to chat GBT that Chat GBT would take the transaction and then you just go to the store to pick it up And then you know, yeah, it's true. You could do that right and that would preserve their business model In that kind of a way Right, that's that's the solution. You're right. Yeah, absolutely. So it's really interesting And you know this kind of lends itself to the next topic that we're going to talk about So we'll move into that which is that really what open AI is trying to do here is create the new OS for the internet new outbreak system And if you kind of zoom out you see how they're doing this piece by piece certainly integrating shopping and leading without as a use case is It's the very useful one And it's also a great way to take this intent level of purchase and getting the answers to your questions Right away and then presenting like qualifying that prospect in that moment and then presenting them with purchase options and the ability to do that really owns that whole funnel kind of experience And what what open what chat GBT is doing now is that they've integrated Apps they've created to do Atlas browser which we'll talk about here wearables and other hardware or soon to come The Atlas browser are more immediate basis. They just released this a couple weeks ago and They have this thing called the OmniBox which allows you to connect a bunch of different apps into Chat GBT Apps like Canva Zillow Coursera, Figma, Spotify and others you can just connect right into Chat GBT What the Atlas browser does is it blends this input with webpage content and using its own agent logic You can easily see how an attacker could craft a URL or webpage snippet the bypasses standard safeguards and manipulates the browser to actually Do things on other third-party websites that could compromise data or could create browser tags or website attacks and and hack those websites and that's one Cybersecurity concern and then the other is at the user level where users have their banking information or the credit card information and You know you can imagine all of the security risks that happen with those kinds of things so Everybody's rushing into this and and it's interesting to see what's happening It's moving very quickly, but when when that happens there's sometimes some broken glass that happens here and Certainly, these are these are some risks going into this talk a little bit about the apps. We were talking about that earlier You know integrated apps into the into Chat GBT is really compelling. They initially built a a data kind of GPT Store right like an app store where all where people could create GBT's right so And there were a whole bunch of companies that did that and these would be more specialized than general chat GBT or have access to other kinds of capabilities or data and it didn't really work, right? I mean, you know some people use some of these things, but it didn't really Break out and people weren't lots of people weren't using these these Recovery products. This is really hard right? It's one guy's GPT from the neck through wise again Right, and it's kind of like what happened with the Alexa skills right there are there you know Alexa the voice You know amazon voice Yeah, they they were like a hundred thousand of these voice apps that developers had created for and nobody used them, you know I mean It was just a complete complete fail every new frontier right So so I think this is a this is a reimagining of the GPT strategy on some level But um kind of more Integrated more directly integrated into chat GPT where there's a number of partners that launch this was at their developer day a couple of weeks ago They announced this Number of partners have launched As of day one and then there's a bunch of folks in line, you know door dash and and thumbtack and a whole bunch of different companies some of which are focused on the local environment some of which are e-commerce But it's an interesting mix and so the ones that launched On day one we're booking.com canvacorecera expedient and figma sort of a range of different you know couple of travel Some creative stuff learning and design. There's a couple of ways to get to this you can either put the at sign in to the search bar And it'll show you what's available and you can and you can select one and then do a search or do a look up as you would You know presumably on canvore booking.com and the other one is to just like if you're I'm looking for Places to rent in Los Angeles. It'll suggest Zillow Zillow was actually Zillow is one of the first ones. I don't know what's not showing up It'll suggest Zillow. Do you want to run this search on Zillow and then you get a version of the Zillow experience or version of the booking.com Experience within the chat GPT environment It's not identical, but it's you know it's branded and it's pretty close so that's pretty interesting is a way to kind of upskill chat GPT and Provide a lot of the structured data and a lot of the Value that these apps have built up over time very very quickly to chat GPT. I don't know how people are going to react to that Whether it's going to be widely used I mean there was a process where you had to connect to the app you had to go through a connection process initially that didn't always work That was brief when it worked, but and then you could and then you could get access to the content, but They'll they'll have to make it a little bit smoother than that I think, but it's it's an interesting strategy And it's a it's a way to fill the gap between what Chat GPT can offer today and what something like Google can offer You know, especially kind of in the local space where there's a lot of Data Advantage is the Google House. So it's it's it's a pretty interesting strategy and we'll see we'll see how it plays out Yeah, it's uh It's like this integrated app kind of experience and you do have to log into Anyone of the services to be able to create this bridge between chat GPT and that app so Spotify or Figma or Zubah There's a little bit of friction there. It's not terrible, but but it's you know It's enough to dissuade some people I think yeah, especially Especially if it doesn't work and it did it didn't work a couple of times for me Sometimes it did and other times it didn't so it was a little bit of a frustrating thing Yeah, and before we started recording the show here you mentioned something I thought it was really interesting which is It feels a little bit like what open AI is doing is creating this walled garden kind of experience um Much like aol did in the early days of the internet um kind of you know, I mean it's it's open you're connected to Lots of other services that of course you can go for us a web and go elsewhere outside of the the Chatchee PT walls however by creating these Bridges and these kind of connectors into all these other systems uh You know it really makes the brain of Chatchee PT That much more powerful and interoperable and you know if you if you look at this is the early days Right because we're all going to look back on this in five ten years and I remember when they started doing that now it's fully evolved What it seems to me is that These become fully integrated full blown you know kind of customer experiences that uh that leverage uh the functionality of let's say either Figma or Anyone that Coursera Spotify would have you creating that interoperability where it doesn't matter if you're in the app itself or if you're Inside Chatchee PT. It's a seamless kind of experience and um Ultimately, I think what they want is that the walls to go down But first they have to kind of put them up to create these connectors So that you stay within their environment. I think I think what happens where all of this goes is that there becomes this wave We'll see I mean we'll save my little no-stri-dol misprediction here's right, you know Johnny ive is a hardware software Platform maker, right he created the iPhone the MacBook Pro and the iPad but uh The iPod you know very first when that came out. So he's now on Gatshe PT's team and you got to imagine that they're creating a network, a suite of interoperable devices that are going to be next gen AI first devices that will incorporate some of the new advancements that Meta has with the Meta glasses that will have the ring. You know that the aura ring that has that kind of capability, but probably have a bunch of these devices that work together to create this AI first kind of experience that will really own the customer at that point at a new level. In a similar way that Apple owns the customer, if you have an iPhone and what that's like and create a ton of benefits that will create this walled garden kind of experience on the one hand, but will become the OS, will become the platform for how you experience the internet and how you experience AI. And certainly the version of the thing. Yeah, I think they had a sort of a strategy document that was leaked. I don't remember the circumstances, but I saw some of it. And basically there are articulating a vision that's very consistent with what you just said, where they want to replace essentially everything that exists. Browser search engines, everything that people are using today, they think people can get through ChatGPT tomorrow. I mean it very much remains to be seen, but that very big, enormous global vision is I think what they're angling toward. And so all of these things are pieces of that, the shopping experience, the apps, the browser, that ultimately will roll up into something more seamless and unified. I mean just on the point of the browser, which we talked about at the beginning, there are a lot of AI browsers now. There's DIA, there's GenSbar. Right, there's Edge with co-pilot. There's of course Chrome with Gemini, there's Proplexity, Comet, there's Atlas, and there's probably several others that I'm not mentioning right now. I like the Atlas browser. A lot of people are sort of, you know, dising it because there's the security issue, which I think is a really valid point. But you know, there's a lot of cynicism about it. Is this just a way to get more data on users? There was a piece, the daring Fireball blog that was sort of, you know, quoting from various individuals and saying, well, this has got to be some sort of data grab. In the same way that Google developed Chrome in part to get more data on users and click stream data and get more insight into user behavior. And so there's probably some truth to it. But I like it a lot. I think it's a better experience than the just basic ChatGPT experience as a browser tab because you can go to websites in a way that you can't really in the normal ChatGPT. I mean, you can click through and get a website in your browser. But there's just a more friction there. But you can navigate directly to websites. It's a, there's some subtle differences that I think are really interesting. And it's kind of a better version. The way I see this is a better version of the Mac client that they developed that I downloaded is a more complete version. And it makes ChatGPT sort of slightly better than the browser tab or the Mac client experience. So I'm using it a fair amount. I use it in tandem with Chrome or Safari. I don't use it as my exclusive browser or as my default browser. But I'm using it a lot mostly to access ChatGPT. But in that process, I do go to third party websites. If I do a search for like I just base, you know, best HVAC repair, right? A heating and air conditioning. On the ChatGPT browser, I get their kind of new and improved local experience, you know, which has listings. If I'm in the Atlas browser, I have three choices. So I can get that experience through ChatGPT. I can click on the web search icon at the top of the page. I can click on the web search icon and I'm getting like 10 blue links. It shows, I mean, unless this is all very fluid. So unless this has changed in the last 24 hours, I get the ChatGPT proprietary sort of local search experience. Then I can get this kind of 10 blue links. If I click on the globe that has is web search, it'll show me 10 blue links that are not one to one. What Google has, it may be some hybrid of being places and Google. But it's but it's really interesting because it's comparable to what Google is delivering. But there are no ads. There are no like modules. No, no people also ask. None of these other sort of components of the Google search results page. And then there's a Google button in the upper right corner where I can click on that and it runs the same search on Google and I get the Google experience within Atlas. And I think that's really fascinating and interesting. And it makes me wonder what's going on with, you know, is there some deal that has been worked out between the two companies. But I can create one query. I can get the ChatGPT version. I can get a web search version which right now is this kind of 10 blue links experience different from ChatGPT's proprietary version. And different from Google's existing search results, although there's some overlap. And then I can get Google. I can get the full Google experience. It's really. Another experience and dimension to this where like then you click on a website, you go to a website and you can chat about the website. You can write it. And you know, get an answer to that. It takes a lot of the browsing and discovery out of it and just gives you answers quickly. And obviously that's what people want. You know, there's a place for discovery and for browsing. But when you want answers to something, you want answers. You don't want to have to hunt and pack and figure out. All right, now I got to go to this website and browse it and find the right page. I guess it's under services, but maybe it's products. I don't know, you know, and you got to go figure that out and you click on the website. You don't have to do that anymore. You just go to a website and now you can just ask it a question about where can I find this and it'll deep lake you right into the website. So yeah, that's a very useful feature. And certainly one that's going to be sticky. I can imagine Google just making that right into Chrome and that upcoming really. Yeah, I mean, it's there. It's there. You get a comparable experience with Gemini. I mean, I'm not using Gemini and Chrome, even though Chrome is by default browser, I'm not really using Gemini. But it's the same kind of thing. It's the same kind of thing with Co-Pilot. And it'll be interesting to see, you know, what the differentiation is. I mean, I guess it'll just go to brand loyalty to some degree, but like, you know, I was playing with the comment browser, but now that Atlas is out, I don't need to use comment. Even though I like perplexity for many things, I can make perplexity a tab on my Atlas browser and go access it that way. So, you know, a year from now, you know, two years from now, it'll be interesting to see how many of these guys are still around and how user behavior has has been affected because as you were talking about the sort of chat with the website, you know, that has implications obviously for web design. But I can ask like on Amazon, I use their AI assistant Rufus a lot. I don't read reviews. I mean, I'll glance at the score, but I'll ask, you know, like with this, these portable chargers, I'll ask, what are the main complaints about this product? And it just gives me very quickly a summary of what people have said, you know, the pros and cons. And so I can make an assessment much quicker than if I had to sort of comb through the reviews and read a bunch of different reviews. And people are going to get used to that kind of summarization and seek it out to your point. Absolutely. So that's actually a good pivot point because this is not always shaping the consumer shopping behavior, but it's also shaping the B2B buying behavior. And this week responsive.io created a white paper called Inside the B2B Buyers Mine 2025. And the report on covers how B2B buyer behavior has shifted with buyers doing far more early research, leaning heavily on AI and self-service, making up their minds well before speaking to vendors. All of this is informing the B2B buying process. This is a significant purchases. And some of the key findings of this research are 90% of buyers conduct research before their first vendor contact. Nearly two-thirds use generative AI as much or more than standard search. 61% of buyers start with a preferred vendor in mind and nearly half remain open to switching. So they go into this thinking, you know, I pretty much have my mind made up, but, you know, then half of them are like, actually, I'm open now. And the vendors response to the RFP often becomes a tipping point in their decision process. AI adoption by vendors also matters. Over a third of the buyers say that a vendor's use of AI in the sales cycle makes them more likely to be considered. So, you know, there's all this talk about AIO like SEO for AI or GEO or, you know, whatever the new acronym becomes, everybody's rushing to get their brand inside of the search results and in the conversation, like CHAT GPT for this reason, because this is significant dollars that are moving in B2B and this is how it's impacting B2B buyers, really interesting behavioral shares. Yeah, I mean, I think the B2B buying process has taken a queue from the consumer process where search used to be sort of the dominant tool that people use to determine who to work with and to get information about these different competitors. And so you would do a search on Google for, you know, who's the best email software program or who's the best, you know, how does company A compare to company B with CRM and you would do all these sort of B2B searches. And I was involved when I was working at overall, you know, a German company that did listings, local listings and reputation management. I was involved in a couple of internal software procurement, you know, exercises, which were just nightmares. The whole process was just a nightmare for various reasons that I don't go in need to go into multiple people and, you know, and you're all over the place, right? You're looking for information wherever you can find it. You're trying to find people who've had experience with the product and you're looking at these, you know, Captera and G2 and you're doing Google searches and you're looking at LinkedIn and, you know, you're sending notes out to people in the email. And it's just a painful and, you know, kind of inefficient process. And highly subjective as well. Well, exactly. Yeah. Exactly. I mean, a lot of people will just, you know, the talk about the 61% go in with a company in mind. I mean, people have a lot of biases. There's a lot of inertia around what you're, what you're already doing and that's a whole different conversation. Like, here's, there's a clearly better tool, but we're not going to change because we're so invested in this existing system that we have. But there was another report to a report from a company called Tenfold, which was, which was about the marketer side of the equation, you know, B2B marketers who are trying to reach these buyers that the responsive report talked, talked about. And it came to similar, had similar findings, kind of a different, different angle here because it's the other side of the equation. And what they found was that AI is the second most common source of leads to these marketers. After social media, which is the number one, and then head of search, email, and paid media. So it was, it was social media, or people sort of were asking for word of mouth. And then AI. So both of these reports sort of validate that AI has become really central in the software B2B procurement process. And the reasons are, are probably pretty self evident. You can collapse a lot of the work that has to be done, you know, generating RFPs, evaluating RFPs, doing market research, comparing vendors. You can do a lot of that much more efficiently with AI. And then use the other channels to validate some of those findings. But it can get you from A to almost Z in less than 50% of the time that it might have taken otherwise with a lot more manual effort. And so it's no surprise that this is the case. And it's an interesting, we were talking before we started recording. It's an interesting contrast to what's going on on the B2C side, where a lot of SEOs and people who initially were talking about like, we've got to devote all, divert all our resources into optimization for AI, are now sort of saying, well, you know, this is something to pay attention to. And it's important in some respects. But it's really way less important than doing what we've always been doing with Google optimization. And here you see kind of a stark difference where marketers, software, SaaS companies essentially really need to take AI very seriously as a discovery tool because they want to be part of the competitive set. They might not be in the competitive set if they're not discoverable, you know, they're or if they don't have enough information that the AI tool can access to really give them a good showing versus, you know, other companies are being considered. A really interesting thing, and I'm curious to see if opening AI comes out with this kind of a manifesto or some sort of like guideline as to how to actually do implement best practices for the EO, AEO, whatever you call it. But if they do, I could see how that could be a major disruptor in Google's ad traffic because, you know, if they're saying, hey, don't spend your money on, we'll send you a ton of traffic. I mean, they've got to obviously catch up in traffic and do this. But you can see down the road where opening AI would do something like this to be disruptive to Google's ad business where they said instead of spending your, you know, hundreds of billions of dollars here, invest in our infrastructure. We'll provide you with a road map to be able to get mentioned here and maybe, you know, it's a completely new ad model that blends advertising with some best practices in SEO to be able to feed their engine in terms of revenue driver for them becomes disruptive for Google at the same time. I could see how at some point they would want to command their dollar that way. Yeah, there's definitely going to be ads. There's definitely going to be ads in chat, GPT and, you know, be interesting to see what they look like and and how complex or simple they are to provision and, you know, so on and so forth. I mean, one of the things that's going on with Google, you know, when when Neil and I have done our surveys with consumers around AI usage versus search, you know, we ask people, well, what do you like about AI? You know, we give them a bunch of, a bunch of options. And my thesis going in was that the absence of ads was going to be a relatively prominent response. Like I like that it's unclettered with ads. And that turns out to be, you know, there's a there's a fair number of people in the in the mid 30s who like that. But that's not as significant as other things that they like about it, the conversational nature of the interaction, the ability to ask follow a question. So, you know, given that, I think we're not going to see the, you know, we're going to see ads. We're not going to see defecions probably in response to that. On the other side, Google is putting more and more and more ads into more places on the search results. And they're also kind of blurring the distinction between organic content and ads. I mean, they would argue that they're not doing this. But, but, you know, in reality, they're, they're, I think they're, their strategies to desensitize people to ads on the search results page and get people direct people to click on certain kinds of things so that they can continue to drive ad revenue. And they're being very, very, very successful at it. I mean, they just had a hundred million dollar quarter for the first time. And, you know, they, they, they have a lot to protect. And, you know, we'll see how that, how that plays out. Yeah, I can see how open AI their ad model just becomes product placement more than it does become, you know, ads on the right rail or something like that. I think I, I can see that I'm just saying we're gonna weave it right in its product placement. You want to show up in that result? They'll have to declare it, right? You can't, you can't have the, the FTC rules prohibit somebody from just taking a payment and putting somebody in the regular search results without some labeling or other indicator that this is a paid slot. That's right. I mean, you know, open AI as a history is, you know, I, yeah, ask for forgiveness later. Well, right, everybody does. Everybody does. They're just very good. If they're disrupting and they don't really care and they kind of don't obviously because if you look at Sora and, you know, all of the intellectual property violations that have happened. Right. Right. I'm carrying without the window of why I'll go. So I guess we'll see, you know, and FTC, you know, be damned. That requires that the FTC actually knows what's going on in people actually can plan and somebody does something about it and by that time you're already here's down the road. So very, in this environment, you might not have an FTC that tries to enforce anything. So we'll see. All right. So let's close up on some pretty, wow numbers here. Valuations are in a major boom. In Vignia now is a five trillion dollar company. They just announced yesterday that a big deal with Uber where they're going to be powering their AI is going to be powering Uber's self driving cars. And what that might look like will obviously be following up on that. That was a big story yesterday and they're just making move after move. Fascinating. value I should five trillion dollar company. They've they've dipped below five trillion today. They're at 4.93 trillion, but they'll get it again. Here we are October 30th 2025. I mean, you know, it's going to happen. If that a year from now, we're going to be like five trillion. That's all, you know, it's good. Well, how long ago was it when we had the first one trillion dollar companies? I mean, how long was it? Yeah, it wasn't long ago. And that was like two years maybe. Maybe it was two years, maybe less. Yes. Yeah, it's going at that speed. So pretty incredible. Google and Microsoft and Amazon are obviously see huge benefits in their market capitalization due to their infrastructure solutions. Right? Amazon has AWS, Microsoft with Azure and Google Cloud. Those are all huge drivers. Google just did a big deal. In fact, this week with with open AI, that boosted their stock price up quite a bit this week. And Apple and Google now are over four trillion dollar companies. Microsoft announced they own 27% of open AI. So, you know, open AI is started to talk about going public soon. And when they do, it'll likely be a trillion dollar company right out of the gate. So big, big boost for Microsoft Nvidia also announced that they are a hundred billion dollar investor in opening the eye about a month ago. So, you know, major major lift in all of these valuations as we go. And, you know, all of these companies are breaking out because they're just doing massive deals with each other. So fascinating dynamic that's happening in all of this. Well, so I discovered when Apple, which became the first, it wasn't the first company to reach a trillion dollar valuation that was a Chinese oil company in 2007, but it was the first US company to achieve this. And it was long, it was further back than I thought. It was August of 2018. So I thought it was only a couple of years ago, but that's seven years ago. But it's still it's still going of a need to go for one trillion to four trillion in seven years is quite a, I mean, it's always part of the go for zero to one in any, through any lens, but going from one to four in seven years trillion, not not billions, not hundreds of billions, but trillion dollars. That's a, that's a lot of zeros. There's a lot of criticism of Tim Cook as being a kind of, you know, I mean, this sort of bending the need to trump is one area of criticism, but just not having the kind of inspired leadership that Steve Jobs provided and not being as product oriented as, as Jobs was. But from a business standpoint, you know, from an investor standpoint, he's, you know, wildly successful. I mean, incredibly successful. And, you know, I, I, I, I shudder to think, I mean, at one point, I don't have any Apple stock, but at one point, I mean, I probably do in some mutual fund or something, but I don't have any standalone stock. But at one point, my wife had some Apple stock, which during the sort of dog days of that companies she sold. And had she not sold it, I probably wouldn't be talking to you. I'd be on my, I'd be on my private island, you know, right? Yeah. Well, I do find it interesting. Last note on all of this, it kind of doubling back to the opening, I just got you earlier. I find it really interesting that OpenAI is going hard after owning the conversation and becoming the assistant, the personal assistant and being the operation system platform for the, the consumer and also for businesses, but really at the consumer level. And meanwhile, to your point, even though Apple is doing great from an investor standpoint, they're really missing the mark of what they could be doing in this moment to create real AI agent that are personal that locked in that relationship with Apple. And it's a weakness of theirs right now. It's, it's, yeah, and they're totally aware of it. They're totally aware of it. And they keep losing people to meta that, you know, is paying these outrageous amounts of money to bring over, you know, AI technologists and experts. I don't think they're, they're, you know, initially it might have been a blind spot for them, but they're clearly aware of it and they're trying to do stuff. And I think they're, they're struggling to retain people and, you know, I don't, I don't have any insight into the technical barriers that they face. But, you know, in theory, we're going to get a version of Siri coming up and then, you know, Q1 or something that's going to be kind of a chat GPT-like. But, but you're right. There's, there's a lot of, you know, investors have been modified for the moment, but long term, they need to, they need to rethink the, the experience. You know, I think, I think there's one vision of the future where everything goes to a chat interface, you know, they used to talk about sort of the search, the search bar, Google condition, people to expect to get access to information easily, wherever you were. And that became the sort of standard user experience. And I think this is the successor to that. And we're going to see every company sort of simplifying access to information either through a kind of a voice assistant use case or just the, the, the, the chat GPT conversational style. Yeah. I mean, you know, when, when the news Siri finally does come out, I hope they're pleased on this. That'll be the day because we're good, near it a little outro. Right, exactly. All right. We're cool. Well, good, good conversation today Greg. Thank you so much. Thanks everybody for listening. And tune in next week. And we'll see you then. Thanks so much. Okay. All right. Bye-bye. Bye. (upbeat music)