20VC: Bret Taylor: The AI Bubble and What Happens Now | How the Cost of Chips and Models Will Change in AI | Will Companies Build Their Own Software | Why Pre-Training is for Morons | Leaderships Lessons from Mark Zuckerberg

Bret Taylor is CEO and Co-Founder of Sierra, a conversational AI platform for businesses. Previously, he served as Co-CEO of Salesforce. Prior to Salesforce, Bret founded Quip and was CTO of Facebook. He started his career at Google, where he co-created Google Maps. Bret serves on the board of OpenAI. In Today's Discussion with Bret Taylor: 1. The Biggest Misconceptions About AI Today: • Does Bret believe we are in an AI bubble or not? • Why does Bret believe it is BS that companies will all use AI to build their own software? • What does no one realise about the cost of compute today in a world of AI? 2. Foundation Models: The Fastest Depreciating Asset in History? • As a board member of OpenAI, does Bret agree that foundation models are the fastest depreciating asset in history? • Will every application be subsumed by foundation models? What will be standalone? • How does Bret think about the price dumping we are seeing in the foundation model landscape? • Does Bret believe we will continue to see small foundation model companies (Character, Adept, Inflection) be acquired by larger incumbents? 3. The Biggest Opportunity in AI Today: The Death of the Phone + Website: • What does Bret believe are the biggest opportunities in the application layer of AI today? • Why does Bret put forward the case that we will continue to see the role of the phone reduce in consumer lives? How does AI make that happen? • What does Bret mean when he says we are moving from a world of software rules to guardrails? • What does AI mean for the future of websites? How does Bret expect consumers to interact with their favourite brands in 10 years? 4. Bret Taylor: Ask Me Anything: Zuck, Leadership, Fundraising: • Bret has worked with Zuck, Tobi @ Shopify, Marc Benioff and more, what are his biggest lessons from each of them on great leadership? • How did Bret come to choose Peter @ Benchmark to lead his first round? What advice does Bret have to other VCs on how to be a great VC? • Bret is on the board of OpenAI, what have been his biggest lessons from OpenAI on what it takes to be a great board member?