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The world is teeming 18 00:00:55.079 --> 00:00:59.320 with innovation as new business models reinvent every industry industry. 19 00:00:59.399 --> 00:01:03.240 Inside an Analysis is your source of information and insight 20 00:01:03.439 --> 00:01:06.280 about how to make the most of this exciting new era. 21 00:01:06.519 --> 00:01:10.680 Learn more at inside analysis dot com, insideanalysis dot com 22 00:01:10.719 --> 00:01:13.640 and now Here's your host, Eric Kavanaugh. 23 00:01:18.280 --> 00:01:21.159 All right, ladies and gentlemen, Hello and welcome back once 24 00:01:21.200 --> 00:01:23.640 again to the only coast to coast radio show all 25 00:01:23.719 --> 00:01:27.400 about the information economy. It's Inside Analysis, yours truly, Eric 26 00:01:27.439 --> 00:01:31.680 Kavanaugh is here with the legendary entrepreneur, the man about 27 00:01:31.760 --> 00:01:33.359 i'd say, the man of my Townity's the man about 28 00:01:33.400 --> 00:01:36.680 the world. He's all over the place Shanghai, Malaysia doing 29 00:01:36.760 --> 00:01:40.560 amazing things in the world of modern technology. We have 30 00:01:40.760 --> 00:01:45.120 Alvin fu his latest Gig zero two launch is about 31 00:01:45.120 --> 00:01:48.519 three years old now, and he knows a lot about bitcoin, 32 00:01:48.599 --> 00:01:52.519 knows a lot about enterprise technology and really global market trends. 33 00:01:53.040 --> 00:01:55.280 And Alvin, I'll just throw it over to you first. 34 00:01:55.680 --> 00:01:59.439 We are living in fascinating times right now. And when 35 00:01:59.480 --> 00:02:02.560 I look at these foundational models that are coming out, 36 00:02:02.640 --> 00:02:05.359 what I find so fascinating is that they are, in 37 00:02:05.480 --> 00:02:09.960 many senses a reflection of human knowledge. It's like a 38 00:02:10.080 --> 00:02:14.439 dynamic encyclopedia Britannic. I think gets things wrong. Sometimes they're 39 00:02:14.479 --> 00:02:17.000 still hallucinating a bit, and we're all working on that. 40 00:02:17.080 --> 00:02:20.280 We're working on the ground truth. But you just suddenly 41 00:02:20.319 --> 00:02:24.680 have at your fingertips outrageous amounts of information which can 42 00:02:24.719 --> 00:02:30.000 be shared and articulated in perfectly syntactically correct sentences. That's 43 00:02:30.000 --> 00:02:32.879 a really big deal. What are your thoughts, having been 44 00:02:32.879 --> 00:02:35.039 in the industry for a couple decades now or more, 45 00:02:35.319 --> 00:02:37.560 what are your thoughts about this inflection point we're facing 46 00:02:37.639 --> 00:02:38.039 right now? 47 00:02:39.520 --> 00:02:43.919 Well, Eric, thanks, thanks again for inviting me to your show. Well, 48 00:02:43.960 --> 00:02:47.719 we are living in an exciting time. You know something 49 00:02:47.759 --> 00:02:50.840 that never I mean, I mean we grew up. I 50 00:02:50.879 --> 00:02:52.759 think we probably grew up almost at the same time, 51 00:02:53.120 --> 00:02:56.919 the same era where we saw, you know, everything that 52 00:02:57.080 --> 00:03:04.039 was analog, right, you mentioned encyclopedia, You know things that 53 00:03:04.039 --> 00:03:06.919 that I think kids of today don't even know what 54 00:03:06.919 --> 00:03:10.080 what in the world encyclopedia because now get access to 55 00:03:10.360 --> 00:03:13.560 the internet. And now of course you know AIHL g BT. 56 00:03:14.280 --> 00:03:17.280 You know, the way is rapidly moving towards an era 57 00:03:17.400 --> 00:03:20.960 where nobody can comprehend and the speech will only. 58 00:03:20.759 --> 00:03:22.319 Get faster and faster. 59 00:03:22.879 --> 00:03:26.599 And AI I think it's going to be the tool 60 00:03:26.840 --> 00:03:32.120 or the single single because you know, to me is 61 00:03:32.159 --> 00:03:35.960 the biggest denominator that's going to disrupt every single business 62 00:03:35.960 --> 00:03:40.199 in every category, every industry, and possibly our. 63 00:03:40.080 --> 00:03:40.960 Lives as well. 64 00:03:41.400 --> 00:03:44.159 So we are we are definitely living in exciting times, 65 00:03:44.560 --> 00:03:46.840 and I think it's just going to get much faster 66 00:03:47.479 --> 00:03:51.080 and we just have to accept and I always coined 67 00:03:51.120 --> 00:03:54.080 this this this term. You know, we live in an 68 00:03:54.080 --> 00:03:57.719 era where we need to learn very quickly. We also 69 00:03:57.840 --> 00:04:01.840 need to unlearn what we are learned very quickly so 70 00:04:01.879 --> 00:04:05.360 that we can relearn new things, because I think that 71 00:04:05.520 --> 00:04:08.800 is the only way to stay relevant or staying ahead 72 00:04:08.800 --> 00:04:09.240 of the game. 73 00:04:09.919 --> 00:04:12.639 That's a brilliant Yeah, that's a really good point. We 74 00:04:12.759 --> 00:04:15.479 have to unlearn to relearn. It kind of reminds me 75 00:04:15.560 --> 00:04:20.399 of one of the challenges with these models. So Watson Acts, 76 00:04:20.439 --> 00:04:23.959 i'm told, was designed originally such that you could pull 77 00:04:24.000 --> 00:04:26.839 out a data set and then retrain the model. And 78 00:04:26.920 --> 00:04:29.319 I'm sure they did that because they realized we might 79 00:04:29.399 --> 00:04:31.279 load something in and then realize, oh, we shouldn't have 80 00:04:31.319 --> 00:04:33.720 done that take it back out. Well, most of these 81 00:04:33.759 --> 00:04:36.120 other models are not built like that, and once you 82 00:04:36.199 --> 00:04:39.399 train a model on something, it's very hard to untrain it. 83 00:04:39.879 --> 00:04:43.000 And the example I give is like raising kids. If 84 00:04:43.000 --> 00:04:45.160 you curse in front of your two year old, don't 85 00:04:45.199 --> 00:04:48.120 be surprised if you curses back, because that's now in 86 00:04:48.199 --> 00:04:51.120 her model, right, So it's hard to you can try, 87 00:04:51.240 --> 00:04:53.079 like with your rag model, you can try now, don't 88 00:04:53.120 --> 00:04:54.839 curse the only daddy can say that word. You know, 89 00:04:54.920 --> 00:04:57.120 good luck with that one, right, What do you think 90 00:04:57.160 --> 00:04:57.480 about that? 91 00:04:58.360 --> 00:05:02.399 All? Right? I mean it's easier said than done. I 92 00:05:02.480 --> 00:05:04.519 mean learning, I think is given. 93 00:05:04.639 --> 00:05:09.240 Everyone learns something, right, to unlearn what they've learned, that's. 94 00:05:09.040 --> 00:05:10.319 Difficult, right. 95 00:05:10.879 --> 00:05:13.560 And if you look at you know, these days, when 96 00:05:13.600 --> 00:05:16.759 you talk about you know, maybe maybe twenty years ago, 97 00:05:16.800 --> 00:05:18.639 when you tell people that you have got like twenty 98 00:05:18.680 --> 00:05:22.519 three years of work experience, that means a lot, right, 99 00:05:22.560 --> 00:05:27.240 That's that's valuable, right, But twenty years to thirty years 100 00:05:27.279 --> 00:05:30.560 of work experience in today's world, that's a lot. 101 00:05:30.759 --> 00:05:33.040 That's that's not that's not going to be helpful. 102 00:05:33.800 --> 00:05:37.759 And because you're going to come with legacy, right, lots 103 00:05:37.759 --> 00:05:41.120 of baggages and and it's difficult to learn something new 104 00:05:41.160 --> 00:05:43.439 and let's not even talk about learning something new. To 105 00:05:43.680 --> 00:05:47.639 unlearn what you've learned for the last twenty three years difficult. 106 00:05:48.279 --> 00:05:50.600 So that's why a lot of companies, when you look 107 00:05:50.639 --> 00:05:53.720 at how they're moving forward, you know, what they've been 108 00:05:53.800 --> 00:05:58.040 organized to achieve past success, right, is probably going to 109 00:05:58.120 --> 00:06:01.240 make you know, probably going to be very difficult for 110 00:06:01.279 --> 00:06:05.759 them to to move forward because of the legacy, right, 111 00:06:05.800 --> 00:06:07.680 because it's very hard for a company that has been 112 00:06:07.720 --> 00:06:12.199 around for for fifty years, one hundred years, right to unlearn, 113 00:06:12.720 --> 00:06:16.959 to uncheck themselves right and reorganize them again in a 114 00:06:17.000 --> 00:06:19.759 way that is totally not what they're used to. 115 00:06:20.399 --> 00:06:22.920 So unlearning is actually a lot lot harder. 116 00:06:23.639 --> 00:06:27.040 Relearning is, probably, but you need to unlearn first before 117 00:06:27.120 --> 00:06:29.839 you can relearn. So again, in that, in that, in that, 118 00:06:29.959 --> 00:06:33.959 in that context, while it all seems easy, it's. 119 00:06:33.920 --> 00:06:35.279 Not not so simple after all. 120 00:06:35.319 --> 00:06:37.639 But so this is something I practice all the time, 121 00:06:38.040 --> 00:06:41.240 and and I'm not so young, but but I've learned 122 00:06:41.439 --> 00:06:43.879 how to, you know, sometimes dump out. 123 00:06:43.759 --> 00:06:47.000 All the all the all the all the legacy and. 124 00:06:46.920 --> 00:06:49.439 Trying to keep an open mind. Now, keeping an open 125 00:06:49.480 --> 00:06:52.720 mind is is also easier said and done. Now, well 126 00:06:52.800 --> 00:06:54.519 what you want to keep an open mind, but you're 127 00:06:54.560 --> 00:06:59.839 still structure within a framework. Right. So so that's why 128 00:06:59.879 --> 00:07:02.199 I'm and I always talk about when people always say 129 00:07:02.319 --> 00:07:05.519 let's think out of the box, right, But the trove 130 00:07:05.600 --> 00:07:08.240 is that it's very difficult because if you're getting the 131 00:07:08.240 --> 00:07:10.560 same people who have been in the same industry for 132 00:07:10.600 --> 00:07:13.680 twenty thirty years and asking him to think out of 133 00:07:13.720 --> 00:07:17.360 the box is almost next to impossible. The only way 134 00:07:17.399 --> 00:07:20.160 to think out of the box right is to get 135 00:07:20.199 --> 00:07:23.959 someone not from the same industry right to look in 136 00:07:24.639 --> 00:07:27.759 and figure out how to think out of that industry. 137 00:07:28.199 --> 00:07:32.160 Mm hmmm, So someone like gohead, go ahead, No. I 138 00:07:32.199 --> 00:07:34.160 was going to say, you bring up a lot of 139 00:07:34.160 --> 00:07:37.759 really really good points here, and from an organizational perspective, 140 00:07:38.319 --> 00:07:40.759 I think you're going to need a lot of introspection 141 00:07:41.319 --> 00:07:45.240 and then some extro spection, I suppose, and as you suggest, 142 00:07:45.480 --> 00:07:48.399 get someone to come in from outside the organization and 143 00:07:48.560 --> 00:07:51.199 just look at your plan, look at your vision. 144 00:07:51.439 --> 00:07:51.600 You know. 145 00:07:51.600 --> 00:07:53.519 I have a really good friend who is a developer. 146 00:07:53.600 --> 00:07:55.759 He's been doing this stuff for twenty odd years in 147 00:07:56.160 --> 00:07:58.639 the valley in San Francisco, and he has a really 148 00:07:58.680 --> 00:08:02.920 interesting mantra where he says, busy is the enemy of 149 00:08:03.040 --> 00:08:06.519 creative And what he means is, if you're just constantly 150 00:08:06.600 --> 00:08:09.720 behind the eight ball, if you're constantly trudging away, trudging away, 151 00:08:09.959 --> 00:08:12.319 you're not thinking of creative answers. And especially in the 152 00:08:12.319 --> 00:08:16.839 coding world and the information architecture world, there are no 153 00:08:17.040 --> 00:08:20.279 limits to how you can design something these days. And 154 00:08:20.360 --> 00:08:22.279 I think a lot of people who don't know code 155 00:08:22.639 --> 00:08:26.639 don't realize how constrictive it is in terms of how 156 00:08:26.680 --> 00:08:29.800 you have to write things. You have different ways, different architectures, 157 00:08:31.000 --> 00:08:35.519 calling you, of course, modular architectures, you have monolithic. You 158 00:08:35.639 --> 00:08:38.519 now have all these distributed systems like Kubernetes. My point 159 00:08:38.559 --> 00:08:41.399 is that there are countless ways to reinvent how you're 160 00:08:41.480 --> 00:08:45.399 doing things, but it does require that sort of shedding 161 00:08:45.879 --> 00:08:49.120 of the old mindsets. And that's what you're talking about, 162 00:08:49.200 --> 00:08:55.159 right It's being able to really thoughtfully discard the structures 163 00:08:55.200 --> 00:08:58.279 of your thinking to adopt a new way of living 164 00:08:58.320 --> 00:08:58.799 and doing. 165 00:08:58.840 --> 00:09:03.960 What do you think, well, I I can, I can resonate. 166 00:09:04.000 --> 00:09:07.480 I mean, the thing is that now I work with developers, 167 00:09:07.879 --> 00:09:08.679 I'm not a coder. 168 00:09:09.600 --> 00:09:10.320 I'm bye bye. 169 00:09:10.519 --> 00:09:14.399 By practice, I'm I'm supposed to be practicing law. I 170 00:09:15.399 --> 00:09:18.080 actually graduated with a law degree some thirty years ago. 171 00:09:18.879 --> 00:09:23.879 Uh and and my first job was I actually started 172 00:09:23.879 --> 00:09:27.399 off in an advertising industry, so nothing to do with 173 00:09:27.440 --> 00:09:29.960 technology and nothing to do with whatever that I'm doing 174 00:09:30.000 --> 00:09:34.399 right now. So it has gone through an evolution that 175 00:09:34.519 --> 00:09:39.000 I got into internet and gradually understand networking and then 176 00:09:39.080 --> 00:09:41.879 understand one point oh two point zero and subsequently I'm 177 00:09:41.960 --> 00:09:44.759 just trying to understand and and you know, you know, 178 00:09:44.840 --> 00:09:46.879 have a much better grap than Web three point zero. 179 00:09:47.360 --> 00:09:49.000 So the entire evolution. 180 00:09:48.720 --> 00:09:51.000 Has taken, you know, some twenty five years or more, 181 00:09:51.480 --> 00:09:56.159 right to learn and learn and also relearn and and 182 00:09:56.320 --> 00:09:59.600 when I work with my my coders, now, my coders 183 00:09:59.639 --> 00:10:03.879 are so bake into the way of working, right. Therefore, 184 00:10:04.320 --> 00:10:07.879 whatever they think about is always you know, the practicality 185 00:10:08.039 --> 00:10:11.759 and and how you code. But when you when I, 186 00:10:11.799 --> 00:10:13.679 when I work with them, I I don't think so 187 00:10:13.799 --> 00:10:17.720 much of coding. I think of user experience, you know. Uh, 188 00:10:18.480 --> 00:10:21.279 I think more in terms of the practicality. 189 00:10:20.639 --> 00:10:22.080 And the the the. 190 00:10:22.000 --> 00:10:25.559 Application and how that how would that then adapt and 191 00:10:26.120 --> 00:10:27.440 adapt to the to the real world. 192 00:10:27.559 --> 00:10:27.720 Right. 193 00:10:28.320 --> 00:10:31.679 So so that's why when you when we look for 194 00:10:31.799 --> 00:10:34.840 people within the team, we want to find a good combination, 195 00:10:35.320 --> 00:10:38.720 a combination of someone who can quote very well and 196 00:10:38.919 --> 00:10:42.240 also very receptive because the probably the problems a lot 197 00:10:42.240 --> 00:10:45.440 of coders is that they're also receptive, and they always 198 00:10:45.440 --> 00:10:48.840 stuck right stuck within the idea the square. And then 199 00:10:49.159 --> 00:10:51.679 the thinking is that they always start then and not 200 00:10:51.720 --> 00:10:54.679 willing to move beyond. So we need to find a 201 00:10:54.679 --> 00:10:57.759 good combination. You know coders, we are you know CEO 202 00:10:57.799 --> 00:11:00.600 who are very open minded. And then we're got you know, 203 00:11:00.759 --> 00:11:03.879 product persons who understand products very well and use experience 204 00:11:03.919 --> 00:11:06.840 and the customers, so that that's a good combination. If 205 00:11:06.840 --> 00:11:10.120 you look at most successful set up, they are made 206 00:11:10.200 --> 00:11:12.919 up of combination of people who are really good in 207 00:11:12.919 --> 00:11:16.519 their own domain and who are very very receptive because 208 00:11:16.600 --> 00:11:20.679 in today's role, right, it's all about understanding your customer. 209 00:11:20.759 --> 00:11:23.480 If you understand them and being able to execute right 210 00:11:23.480 --> 00:11:26.480 according to what they need, right, and that makes the 211 00:11:26.519 --> 00:11:29.919 product very successful. And that's lacking in a lot of 212 00:11:29.960 --> 00:11:33.919 companies because you know, some of them are just good engineers, 213 00:11:34.440 --> 00:11:37.440 they're good programmers and that's all about it. But to 214 00:11:37.519 --> 00:11:40.960 understand the customer and take it to market sometimes lacking. 215 00:11:41.080 --> 00:11:41.240 Right. 216 00:11:41.320 --> 00:11:42.440 So so again, when. 217 00:11:42.279 --> 00:11:44.600 You want to find a team, right, you need to 218 00:11:44.639 --> 00:11:47.399 find a team that are able to do what I've 219 00:11:47.440 --> 00:11:50.639 just said. But if you look at most organizations I'm 220 00:11:50.639 --> 00:11:53.840 talking about multinationals, the companies that has been around for 221 00:11:53.879 --> 00:11:58.840 a long time, the combination that actually missing and most 222 00:11:58.879 --> 00:12:03.279 of the time being led by people who have been 223 00:12:03.320 --> 00:12:06.919 in the industry right for several years. And if even 224 00:12:06.919 --> 00:12:10.519 if they will find replacement for the CEO or CFO. 225 00:12:11.320 --> 00:12:13.519 Usually they will also they will they will end up 226 00:12:13.559 --> 00:12:17.639 finding the old gods from another company, a similar company, 227 00:12:17.879 --> 00:12:21.360 to run the company because it's safe to do so, right, 228 00:12:21.440 --> 00:12:23.559 Because if you find someone who is. 229 00:12:23.600 --> 00:12:26.159 New, right, that's taking a lot of risks right. 230 00:12:26.480 --> 00:12:28.639 For a new startup, it's a lot easier because there's 231 00:12:28.679 --> 00:12:32.600 no legacy, there's no historical so basically you're starting from 232 00:12:32.639 --> 00:12:36.919 ground zero. But when you are taking on a mountinnational, 233 00:12:38.600 --> 00:12:40.240 there are a lot of boundaries that you need to work 234 00:12:40.279 --> 00:12:42.360 with and then you answer about to your shareholders, your 235 00:12:42.360 --> 00:12:43.720 board of directors and so forth. 236 00:12:44.120 --> 00:12:46.799 So it's very difficult. So that's not what you're seeing 237 00:12:46.840 --> 00:12:47.120 right now. 238 00:12:47.200 --> 00:12:49.799 We have seen over the last twenty years their disruption 239 00:12:50.480 --> 00:12:53.080 in several sector industry. 240 00:12:52.639 --> 00:12:54.200 And many big companies. 241 00:12:54.240 --> 00:12:57.159 There was one once very big are no longer around 242 00:12:57.159 --> 00:12:59.799 like companies that called that companies like no Care. And 243 00:12:59.799 --> 00:13:02.679 now now what is impacting is in what we're seeing 244 00:13:02.720 --> 00:13:03.399 very clearly is. 245 00:13:04.000 --> 00:13:05.159 In the auto industry. 246 00:13:05.679 --> 00:13:07.679 When you look what you're seeing right now, the evs 247 00:13:07.759 --> 00:13:13.240 from China are now disrupting right the global auto industry 248 00:13:14.120 --> 00:13:18.639 because the auto industry, which has been so structure and 249 00:13:18.879 --> 00:13:22.320 organized right to a very well structured supply chain for 250 00:13:22.360 --> 00:13:25.600 the last god knows how many years, right, are now 251 00:13:25.799 --> 00:13:30.639 facing disruption caused by companies new EV company that build. 252 00:13:30.519 --> 00:13:31.879 Cars entirely on their own. 253 00:13:32.600 --> 00:13:38.559 They design and manufacture a car entirely by themselves in 254 00:13:39.200 --> 00:13:41.080 the shortest time. If you look at most companies a 255 00:13:41.120 --> 00:13:44.000 design car, it takes seven years, right, at least seven 256 00:13:44.039 --> 00:13:47.480 to ten years to come up with one new model. Now, 257 00:13:47.559 --> 00:13:51.159 the company in China, a company called bid As, I'm 258 00:13:51.200 --> 00:13:54.519 sure you must have heard, one of the largest EV companies. 259 00:13:55.279 --> 00:13:56.679 They can come. 260 00:13:56.600 --> 00:14:00.879 Up with a new model almost every month, right now, 261 00:14:01.159 --> 00:14:07.200 that's scary, right. So so the Chinese, the Chinese manufacturing 262 00:14:08.080 --> 00:14:10.840 right has I mean what whatever I always say is 263 00:14:10.919 --> 00:14:14.279 right Now, anything that that that that it has a 264 00:14:14.360 --> 00:14:21.639 linkage to electronics, right, whether that's a smartphone or the 265 00:14:21.679 --> 00:14:25.440 fan that you're using at home, the air conditioning system, whatever, 266 00:14:25.480 --> 00:14:28.080 that is being powered by electric. 267 00:14:29.039 --> 00:14:30.279 The Chinese are really good at it. 268 00:14:30.919 --> 00:14:31.120 Right. 269 00:14:32.000 --> 00:14:35.159 Years before EVE came about, the Chinese had a hard 270 00:14:35.200 --> 00:14:37.960 time catching up because it was it was based on 271 00:14:38.080 --> 00:14:43.879 a very old technology called engine, the combustion engine. Today, right, 272 00:14:44.759 --> 00:14:51.039 it is being built empowered by batteries, So that's electric again. 273 00:14:51.279 --> 00:14:55.200 So the electrification of auto, of the auto industry, right 274 00:14:55.840 --> 00:14:59.919 provides a new entire paradigm shift for the manufacturing the 275 00:15:00.000 --> 00:15:03.720 auto manufacturing industry in China. And suddenly, right they have 276 00:15:03.799 --> 00:15:08.559 gone from nowhere and became the largest EV manufacturers in 277 00:15:08.600 --> 00:15:12.080 the world. Right, So they've disrupted many many industry right 278 00:15:12.159 --> 00:15:14.559 and and the auto industry is the next one to 279 00:15:14.559 --> 00:15:15.080 be hit now. 280 00:15:15.200 --> 00:15:16.559 So so when you look. 281 00:15:16.440 --> 00:15:18.000 At when you look at a lot of these companies, 282 00:15:18.039 --> 00:15:19.879 I mean I had the opportunity to speak to some 283 00:15:19.960 --> 00:15:22.919 of them, some of the CEO that I know personally, 284 00:15:23.399 --> 00:15:28.960 uh and and most of them started the company almost nothing, 285 00:15:29.919 --> 00:15:31.720 literally almost nothing, with a couple of people. 286 00:15:31.840 --> 00:15:33.480 And all they had was a dream that they want 287 00:15:33.480 --> 00:15:33.919 to build a car. 288 00:15:35.120 --> 00:15:37.840 Right And and when you look at them, right, they've 289 00:15:37.879 --> 00:15:41.919 got a lot there have almost no legacy, and all 290 00:15:41.960 --> 00:15:44.799 they all they know, right is that it's huge market. 291 00:15:44.559 --> 00:15:46.480 Out there is how how do I come up with 292 00:15:46.519 --> 00:15:46.759 a car? 293 00:15:46.759 --> 00:15:50.039 And the shortest sign and the competition in China is 294 00:15:50.039 --> 00:15:53.480 that they are over one hundred and sixty five EV 295 00:15:53.639 --> 00:15:58.639 manufacturers only it's crazy and and most of them are 296 00:15:58.679 --> 00:16:01.080 not making money. Most of them are not making money. 297 00:16:01.080 --> 00:16:04.559 They're all funded now of course when when when the 298 00:16:04.600 --> 00:16:07.759 funding stops, like the music stops, right, So so at 299 00:16:07.759 --> 00:16:10.120 some point they will there's going to be I mean, 300 00:16:10.320 --> 00:16:13.720 as of now, there are they are already already some 301 00:16:14.240 --> 00:16:18.000 have already applied for bankruptcy early, right, And I'm sure 302 00:16:18.039 --> 00:16:21.159 along the way you see more and more ev companies 303 00:16:21.200 --> 00:16:23.639 in China are going bus and I think that's where 304 00:16:23.639 --> 00:16:25.600 the consolidation will come in. And of course there's the 305 00:16:26.960 --> 00:16:29.960 more solid company, the companies at bid. You know, they 306 00:16:29.960 --> 00:16:33.039 will continue to be, you know, a key player in 307 00:16:33.039 --> 00:16:33.799 the global market. 308 00:16:34.440 --> 00:16:36.240 And and and that's a competition. 309 00:16:36.320 --> 00:16:42.000 Competition is in China on any sector super competitive, super 310 00:16:42.039 --> 00:16:42.759 super competitive. 311 00:16:43.159 --> 00:16:46.960 Well, I mean China basically went hyper capitalist, you could argue, right, 312 00:16:46.960 --> 00:16:49.559 I mean you went from this an older system, a 313 00:16:49.559 --> 00:16:53.759 more traditional system of governance and societal developments and dynamics 314 00:16:54.080 --> 00:16:57.600 to this hyper capitalist environment right now. And that's why 315 00:16:57.960 --> 00:16:58.799 the economy is. 316 00:16:58.759 --> 00:16:59.279 Doing so well. 317 00:16:59.279 --> 00:17:04.359 I mean, capital breeds excellence. Competition breeds excellence. And when 318 00:17:04.400 --> 00:17:06.519 you do it, when you don't have competition, that's when 319 00:17:06.559 --> 00:17:08.920 things slow down and you do not get a lot 320 00:17:08.960 --> 00:17:11.559 of innovation. I mean you see this in organizations too, 321 00:17:11.680 --> 00:17:14.480 Like the more competition a certain company has the harder 322 00:17:14.480 --> 00:17:16.039 they have to fight to get their market share, right, 323 00:17:16.079 --> 00:17:18.240 real quick, we got one minute in the segway, go ahead. 324 00:17:19.920 --> 00:17:21.960 Right, I mean it is it is, it is what 325 00:17:22.039 --> 00:17:26.440 it is. I mean the you know, innovation in China 326 00:17:26.519 --> 00:17:29.920 is given. It's not like innovation has to be something 327 00:17:30.000 --> 00:17:32.880 that we that that people are being taught what innovations 328 00:17:33.279 --> 00:17:36.839 is given and and and the only way to fight 329 00:17:36.880 --> 00:17:40.880 competition in China is innovation, no other way. And that's 330 00:17:40.880 --> 00:17:43.599 why when you look at all the all the auto manufacturers, 331 00:17:43.599 --> 00:17:47.559 in all the cars that's been designed, right, every single 332 00:17:47.599 --> 00:17:49.759 one of them will come up with you know, very 333 00:17:49.799 --> 00:17:52.160 gimmicky features and so forth, right, just to. 334 00:17:52.079 --> 00:17:53.119 Out compete each other. 335 00:17:53.599 --> 00:17:56.440 And and and then you multiply that with one hundred 336 00:17:56.440 --> 00:17:57.920 and sixty five manufacturers. 337 00:17:58.400 --> 00:17:59.079 It's painful. 338 00:18:00.240 --> 00:18:03.599 And that so so so I mean short, right, that 339 00:18:03.680 --> 00:18:07.000 has caused a whole disruption to the auto industry, pushing 340 00:18:07.000 --> 00:18:10.160 out the Japanese brands. Right, Some of the Japanese brands 341 00:18:10.160 --> 00:18:13.279 are exiting the market already, some of the some of 342 00:18:13.319 --> 00:18:18.240 the American many manufacturers like GM are closing closing down 343 00:18:18.400 --> 00:18:21.799 factories now they're all getting hit and German brands like 344 00:18:21.920 --> 00:18:25.039 the Mercedes and BMW are also getting hit as well, 345 00:18:25.640 --> 00:18:29.680 and it's painful because China is a market that car 346 00:18:29.680 --> 00:18:31.160 manufacturers cannot afford to lose. 347 00:18:31.680 --> 00:18:34.160 It's like, it is the largest auto. 348 00:18:33.839 --> 00:18:36.880 Market in the world, right and it's a market that 349 00:18:36.880 --> 00:18:39.240 it cannot afford because there's no way that you can 350 00:18:39.599 --> 00:18:44.119 replace that lost revenue. And this is exactly what's happening 351 00:18:44.119 --> 00:18:46.160 in China right now in the auto sector. 352 00:18:46.519 --> 00:18:48.480 That's crazy. Well, folks, don't touch it. Dow Or will 353 00:18:48.480 --> 00:18:50.920 be right back with the legendary Alvin Fou. You're listening 354 00:18:51.000 --> 00:18:54.519 to Inside Analysis. 355 00:18:59.039 --> 00:19:03.960 Welcome back to Inside Analysis. Here's your host, Eric Tavanaugh. 356 00:19:06.559 --> 00:19:08.799 All right, folks, back here on Inside Analysis talking to 357 00:19:08.880 --> 00:19:11.279 Alvin fu your host here, Eric Kavanaugh. We're talking all 358 00:19:11.319 --> 00:19:15.160 about innovation and how China has one hundred and sixty 359 00:19:15.240 --> 00:19:20.319 five manufacturing companies for cars. I mean, that's just crazy. 360 00:19:20.559 --> 00:19:22.720 Here in America they talk about the Big Three and 361 00:19:22.799 --> 00:19:25.519 even they're having trouble and they've been subsidized and given 362 00:19:25.559 --> 00:19:28.519 all sorts of money. And you know, I drove a 363 00:19:28.559 --> 00:19:30.319 maz to me out of myself two thousand and one, 364 00:19:30.440 --> 00:19:32.319 a six speed. It's a beautiful car. I don't think 365 00:19:32.319 --> 00:19:34.160 there'll ever be another car as beautiful as my car. 366 00:19:34.279 --> 00:19:37.359 To be honest with that, I'm selfish. But Alvin, you 367 00:19:37.440 --> 00:19:40.240 are a lawyer by trade. You studied law and I 368 00:19:40.279 --> 00:19:42.759 just gave a keynote this morning where I basically said, 369 00:19:42.839 --> 00:19:45.240 in the not too distant future, and this mayread be 370 00:19:45.279 --> 00:19:49.039 happening somewhere around the world, you, as a plaintiff, are 371 00:19:49.079 --> 00:19:51.119 you going to have the option to go with an 372 00:19:51.119 --> 00:19:54.319 AI judge and jury or a real judge and jury. 373 00:19:54.640 --> 00:19:56.920 And if you do the AI judge and jury, You're 374 00:19:57.079 --> 00:19:59.759 just gonna load your lawsuits. You're gonna load all your evidence. 375 00:20:00.079 --> 00:20:02.079 You're going to talk to a camera for an hour 376 00:20:02.200 --> 00:20:04.759 or two and answer questions. The defendant's going to do 377 00:20:04.799 --> 00:20:07.039 the same thing. And once all that information is in there, 378 00:20:07.240 --> 00:20:09.720 the engine's going to open, read through it and say 379 00:20:10.079 --> 00:20:11.960 we find in favor of the plaintiff. Here's what you 380 00:20:11.960 --> 00:20:14.359 have to do. I think that's going to happen. And 381 00:20:14.440 --> 00:20:18.119 think about this, because you can, even with the ability 382 00:20:18.160 --> 00:20:21.200 to model these days, you could even you talk about 383 00:20:21.200 --> 00:20:24.880 a jury of your peers, you could scrape data from Facebook, 384 00:20:24.880 --> 00:20:28.960 from Instagram, from other social platforms, and a particular geography 385 00:20:29.440 --> 00:20:33.400 and then create jurors based upon the personalities in that geography. 386 00:20:33.480 --> 00:20:35.400 Then you could even have a random jury selection. You 387 00:20:35.400 --> 00:20:39.119 can do the whole thing through AI. And you look 388 00:20:39.160 --> 00:20:41.640 at the legal world today, well, what is law really 389 00:20:41.640 --> 00:20:45.079 boiled down to? It boils down to the practice, the rules, 390 00:20:45.599 --> 00:20:47.960 and what you can do at certain points in time. 391 00:20:48.000 --> 00:20:51.279 Emotion to dismiss, for example, is something you can do well. 392 00:20:51.319 --> 00:20:52.799 Right now, You've got to pay people a lot of 393 00:20:52.799 --> 00:20:54.200 money to do all that stuff, and they have to 394 00:20:54.200 --> 00:20:55.759 know how to do it. Then you have to get 395 00:20:55.799 --> 00:20:59.119 them to do it. I've had only one experience with 396 00:20:59.160 --> 00:21:01.200 a lawyer in my life, but he was very lazy. 397 00:21:01.480 --> 00:21:03.599 I mean, we we worked out, everything worked out fine, 398 00:21:03.599 --> 00:21:05.640 but he was very lazy and he just didn't really care. 399 00:21:06.119 --> 00:21:07.880 And that's when I learned, Oh man, when you hire 400 00:21:07.880 --> 00:21:09.680 a lawyer, make sure you get one who's going to 401 00:21:09.759 --> 00:21:13.559