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Speaker 1: So we've made progress on pretty much every front, and

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I think it's worth it's worth hearing about that progress

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from the team, and they will also ask answer questions,

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and I'll look at my x feed as well see

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if there's any zingers in there that I can answer.

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But the I guess the main message we wanted to

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convey is that the advertising technology for X only Twitter

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has improved dramatically so that the targeting is actually appropriate.

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So previously there really wasn't any targeting, so people basically

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see spam ads meaning and a spam ad is an

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ad that is that doesn't meet the user's needs, whereas

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an AD that is that meets the user's needs if

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it's a product or service that they want, especially when

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they want it, that is actually content. So our goal

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is to move as as quickly as possible to having

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ads that for products and services that directly meet the

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needs of you users. And we're looking for actually very

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specific product ads. So we certainly welcome we welcome brand advertising,

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we welcome sort of general message advertising. But the thing

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we're actually asking advertisers to do is to is to

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now consider doing ads for very specific products and services

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so we can actually connect users with products and services.

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Speaker 2: That I would make their lives better.

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Speaker 1: And that's we finally have the technology to do that

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by using AI matching.

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Speaker 2: Essentially, we.

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Speaker 1: Look at what users do publicly, you know, what, what

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do they interact with, what do they like, what they've

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what posts they view, and and then that creates essentially

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the set of interests of the user. And then the

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same thing with the ad. We see what what users

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pay attention to what ads and then and that essentially

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creates a profile for that ad, and we correlate the

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user interests with that particular product of service, and that

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results in radically better matching. And but this year, a

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number of times I've talked to people and I've said

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how many times for how many years have you used

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x RA Twitter?

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Speaker 2: And they might say as long as ten years.

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Speaker 1: And I'll say how much have you bought on x

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in even going back to when it was Twitter, and

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they'd say almost nothing, if not nothing. And we want

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to change that completely to where you can even go

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on x and you look forward to the ads where

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you're actually interested to see what ads show up, because

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they're going to be for products and services.

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Speaker 2: That you want.

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Speaker 1: And and that's that's the sort of nirvana goal that

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we have here, and we're using grock AI to help

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achieve that goal.

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Speaker 2: That's that's really fundamental. And then we've also been asked.

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Speaker 1: About as related to grock, if somebody has a query

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on groc, should we perhaps have some advertising there. We

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we haven't done that yet, but we are working on that.

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But yeah, Number number one request of advertisers is very simple,

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which is to put product and service, very very specific products,

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very specific services on the system so that GROC can

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match the your products and services to you know, the

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six hundred million monthly users that we have on the system,

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and when you when you consider total number of users

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on on the X system, it's closer to a billion.

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Some only will come in every you know, three months

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or something like that, but total live people with accounts

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is about a billion on the X platform. And it's

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also very much worth emphasizing that the users on the

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X platform have the highest buying power of any audience anywhere, so,

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you know, so certainly have a lot of respect for

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the advertising platforms on you know, TikTok or even snap

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Chat and others, but very often the user base is

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very young and does not have the money to buy things.

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Our our user base consists of the smartest and wealthiest

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people in the world, so it's a no brainer to

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show them stuff.

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Speaker 2: Anything they see they can buy.

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Speaker 1: So it is a it's it's the wealthiest advertising demographic

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I think of any platform social media, orial media on Earth,

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and I really want that message to resonate. Something that

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I think is actually very important is is to actually

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let the let the grock API, let the grock AI

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actually figure out the right targeting. Sometimes advertisers want to say, okay,

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we want to target men or women of a particular

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age or something like that. But but actually, if you're

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i mean, for augment's sake, let's say you're selling gardening tools,

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you just care that somebody likes gardening. You don't care

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if they're an eighty year old woman or twenty year

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old men that you just care that they they're interested

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in gardening.

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Speaker 2: And that's what groc can figure out.

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Speaker 1: So historically you have to do these yesses based on

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demographic breakdown, but you don't have to do that anymore.

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You can literally just let the AI do everything and

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it actually ends up with a better outcome.

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Speaker 2: So that's I'd encourage, you know, just just let the AI.

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Speaker 1: Do its thing and and it'll it'll find your product,

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it will match the product service to the user's needs,

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and and that'll actually be the best best outcome if

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you advertise a part to service that the user needs

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when they want to, that's the ideal moment. So like,

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let's say, in speaking of reply ads, that there's a

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reply thread discussing auto insurance and someone's maybe unhappy with

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their existing auto insurance provider, and they're discussing, you know what,

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what what the other options are? That would be the

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perfect location to put an car insurance. It's like, what

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about us? Because that's that's that's both what somebody is interested.

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Speaker 2: In and when they're interested in it. So reply ads

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can be very powerful.

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Speaker 1: Talking really just means reducing the probability that an AD

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is spam for a user, then an AD is not applicable.

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We do actually care about the aesthetics of ads. That

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a beautiful AD is actually quite important to us because

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if an AD is ugly or strident, that damages our product.

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If somebody's scrolling through and they see an AD and

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that that ad is jarring, and and you know, just

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really upsetting or ugly, then that actually damages our user

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experience and that damages our products. So we actually want

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to favor ads that are beautiful. So that just just

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clear that that that ads will will receive, you know,

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a slight boost if they are aesthetically I mean, we're

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not talking about the need to win some contests or something,

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just just not jarring and ugly. So I have a

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personal aversion to are and ugly ads, and I'd actually

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rather make less money.

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Speaker 2: Then if then have you.

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Speaker 1: Know, strident and ugly ads in the system, and then

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we are changing the cost of an ad proportionate to

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how much vertical space it takes, just as a full

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page ad in a newspaper costs a lot more than

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a quarter page ad. The smaller the ad is, the

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more ad impressions will get for a given dollar. But

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even in that case, so I think, you know, there's

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could be a lot of blank space around the ad itself.

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It should really be the image should be shortened to

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be relevant. There's no point in having a bunch of

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blank space around that we wanted. General brand advertising can

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certainly find, but that doesn't require much targeting if it's

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a big brand. But for specific products, Like so your product,

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you know, helps people sleep better, and that obviously would

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be the ideal time to show users and add for

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your product. It would be if there's any discussion about sleep,

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or if they've made some comment about like not getting

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enough good sleep and maybe the a sleep you know

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mattress would solve their their issues.

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Speaker 2: That's that's obviously would be perfect.

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Speaker 1: And then you know, I'm particularly looking for unregretted user purchases.

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So a user sees a product or service, buys a

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product or service and it's and it solves their need,

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then I think we've done something fundamentally good.

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Speaker 2: Yeah. Yeah.

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Speaker 1: If if people have received a product or service that

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has made their lives better so even that they have

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no post post purchase regret, in fact, they're happy, then

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we've done a good thing for the world. So that

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that's our goal. I'd really advise to be as specific

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as possible. So even if you've got say a large

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number of products, my recommendation would be to put what

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you think are the most likely products that people would buy,

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because if you give sometimes if you give people too

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much choice, they're like, I don't know what to do here.

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You know, maybe just give them what is probably the

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best choice and then they can always you know, maybe

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go to the website and change that or something.

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Speaker 2: But if you try to give.

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Speaker 1: People as as specific as solution to the problem as possible,

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I think that's the right way to go. Yeah, and

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you can, you can upload several several products, but but

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it's you know, and it's I think it's like sometimes

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the product carousel. That's okay, but you really you really

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want to just you only have the user intention for

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maybe a second or two, and you want to just

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have that. It's like, okay, it's this one, go for it.

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And you can put in different products and see which

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ones are more resonant. But we're trying to be as

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as precise as possible, so so we have the highest

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product that grock has the highest probability of matching a

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product of service with product product or service with the

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user's actual needs. Yeah, in fact, you can do you

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can do that right now if you if you if

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you use grock and you can actually ask grock just

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go you know, maybe use grock expert Mode. And I'd

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recommend this to everyone because you can do it right now.

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Is you know, maybe you can post a probably the

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best way to do this, certainly for copy, for text copy,

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you could say what is the best way to represent

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this and and ask GROC to give you some recommendations.

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You can literally just do that on groc and the

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X app or the groc app or grock dot com

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and I think you'll see some interesting suggestions because grock.

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Actually one of the big advantages of the GROC AI

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is that it's connected to the the the X system,

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so it actually understands the X system. It's ingested the

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entire it's done training on the entire X you know,

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all of the public user posts it's done training on,

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so it actually has a good a good sense of

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what people respond to already. You just literally asked Rock

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right now. Yeah, I mean, so we have sort of

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what I call grock, you know, grock. Imagine it's kind

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of version zero point one, kind of beta. And so

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you can take any image and and and turn that

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into a six second video with the with rock right

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now in like sixteen seconds, and you can you can

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you can grock will it's somewhat will randomize it, so

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you can actually do manyferent videos and generally the video

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is going to be a little bit more compelling than

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a static image, and you can also give rock com

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matching custom instructions. This is just kind of I literally

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call it boson zero point one of the our product.

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We've got a much more sophisticated version coming out in

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two or three weeks where you can which way you

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can add voiceover, you can add in fact, technically right

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now we just added a future where you can do

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some voiceover, so it's worth trying out.

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Speaker 2: Like basically, I check.

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Speaker 1: Update your grock app and your AX app almost every

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day because we're rolling out upgrades and features and bug

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fixes almost every day. And yeah, you'll just be able

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to say that Grock just make me a video ad

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or an image ad or whatever or text ad that

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is that accurately describes my product and it is likely

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to appeal to the audience based on what Grock knows

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about X, and it pretty much knows everything about X,

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then yeah, it should be super easy to create a

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text image or video ad. You can upload any image

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right now, including an image of your product, to two grock,

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so you can do it from your phone in like

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five seconds, so any or or from your browser you

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can take You can take an image of your product

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and turn that into a video and then you can

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actually say, now add something new to the video. But

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things are evolving very quickly, so like you said, up

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they trap almost every day and there'll be new features

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and functionality. The rate of evolution is very fast, and

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we are implementing that. We are seeing a little bit

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of where the same ad is shown to too many people,

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the over frequency issue. In fact that that was just

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raising that with Roman Uh right before this meeting, and

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we should see a significant proven to that by Friday.

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We're actually pushing a change that reduces the over frequency

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problem literally in two days. This's clearly times when a

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single users shown the same ad far too many times,

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Like it's so you know, one hundred times type of thing,

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and that's that's silly. So we're going to iterate until

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we see, like what what actually results in an effective

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and purchase experience. You know, past a certain point, you're

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really just you know, being a dead horse.

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Speaker 2: It's kind of pointless.

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Speaker 1: I guess generally when any product breaks with especially AI,

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but really almost any product or any kind of new thing,

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if it's it's going to trend on X almost immediately,

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so you can kind of tell if a product is

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going to be successful actually because it's going to trend

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organically on X in a big way.

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Speaker 2: And I guess we would also see it with.

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Speaker 1: Rock, you know, when people ask Rock questions, you can

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see that frequency spike when there's something new and interesting.

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We do think that immersive video ad advertising is important

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and that that will be a significant focus in the future.

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So if you're in immersive video, you should see a

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massive compelling video ads. And then the same thing is

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true with when when people do search with l MS,

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at least with GROC, which we should show people products

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that they would find interesting. If they're a false famous

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manner in our system, we will that that ad will

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be struck from the system.

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Speaker 2: That it would it would it would work well.

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Speaker 1: I don't know about nuances, but if if, if misleading

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claims are made, then the then that ad will be

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struck from the system and that advertiser will be banned

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from X. We actually have GROC assessed the scamminess of

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an AD, so there are far fewer scamming ads that

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actually come through because Grock's pretty smart and GROK gets

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smarter over time.

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Speaker 2: So if an AD is misleading.

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Speaker 1: You know, GROC I think is going to figure that out, yes, right,

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telling ads without being misleading. There have been a lot

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of improvements behind the scenes, So admittedly the interface is suboptimal,

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but in terms of matching, there's been there have been

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significant improvements behind the scenes, and we have seen advertiseacy,

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you know, double or triple the conversion rates that they

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so we're seeing even a few months ago. So it

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may not on the surface appear like there's a lot happening,

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but there's certainly a lot happening beneath the surface. I

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don't believe in disruption for the sake of disruption, and

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I mean, frankly, for the X system.

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Speaker 2: We're just trying to get.

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Speaker 1: To where we were at a level of capability that

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is kind of industry standard. The sort of the old

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Twitter advertising system basically had no targeting, so it was

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just kind of random spam, and we're trying to get

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to and we're making progress rapidly to the point where

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we're showing our users products and services that they actually

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want to buy. So we're coming from a kind of

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a tough position but making rapid progress to showing users

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products and services that they actually want to buy the

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acid test, being that you're on the X system. If

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you're on the X system for several hours a week,

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you should have probably bought something or certainly seen as

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for lots of things that you'd want to buy. We're

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trying not to inject editorial into advertising apart from the

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fact that we want ads to be esthetically pleasing, to

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be beautiful, and not to be shrill in any way,

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and we want them to be accurate. That's that's and

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and matched to a user's needs.

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Speaker 2: That's it.

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Speaker 1: So Yeah, to be to be clear, like, we're not

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saying that an AD needs to be winning most Beautiful

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out of the Year award, but but that it just

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can't be extremely ugly and strident.

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Speaker 2: That's all.

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Speaker 1: So if if Grock determines that an AD is you know,

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just shrolls strident, ugly and discordant, it will receive a penalty.

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But it really an okay AD will not receive a penalty.

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It doesn't need to be winning any you know, major

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aesthetic contest. It just needs to not be aggravating. Yeah, absolutely,

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Grock will do this dynamically. So this should just happen automatically.

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Just put the ad in and it should react automatically

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to any anything that's happening in real time.

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Speaker 2: So and with that, yeah, thank you for tuning in.

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We're working hard to make x.

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Speaker 1: A a great platform for advertising, ultimately the best advertising,

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the best platform for apazing and appreciate your support.

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Speaker 2: Thank you,