Speaker 1: You know, we can.
Speaker 2: We'll gather about AI and the science fiction of the future.
But as an investor, I'm thinking about this. You know,
what are my takeaways? And I think, well, the technology
itself has certain demands and inputs and that's investable. But
on the other hand, you know, if you really do
have fleets and robot cars everywhere, does everybody need to
have a car? We could actually see this have a
negative impact on commodities.
Speaker 3: You're listening to Carrie Letz's Financial Survival Network, where you
get valuable information you just can't find anywhere else to
thrive in today's trying times. You need the Financial Survival
Network now more than ever. Go to Financial Survivalnetwork dot
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Speaker 4: And welcome you are listening to and watching the Financial
Survival Network.
Speaker 1: I'm your host, Kerry Lutz.
Speaker 4: Awhere, like two thirds the way through may Lovo t
Grade is with us now. And well, what's going on
out there? Well, this world has gone totally insane. Nobody
knows what's happening.
Speaker 5: You would know that from the S and P five hundred.
Speaker 6: Yeah, Well, somebody knows something, right, yeah, it's a it's
a it's a mad, sad world out there, and there
are many different directions we can take this conversation, but
I guess my intro remarks Carrie would be I.
Speaker 2: Think Wall Street is delusional to be celebrating the de
escalation between the US and China. I mean, even if
it's true it's a de escalation, it's certainly not peace
in the trade war. And even you know, even if
they make some kind of deal, the outcome of that
is still going to be a more expensive, less efficient
trade arrangement that the bare minimum it's pretty clear Trump
is going after is ten percent around the world. So
there's there is going back to the way things were before,
and for equities to be priced as they were before,
in my view, makes no sense that I think this
has investment implications, even if you're not a mainstream investor,
because if the if the broader markets are making a
mistake right now, they're overly optimistic for how all this
stuff is going to work out. Uh, there will be
plenty more Trump shock to come. And I don't mean
that as an insult. You know, love him or hate him,
There's there's Trump shock to come and that has you know,
a lot of investment implications for us.
Speaker 1: So so what about Doge here they're cutting.
Speaker 5: And dropped out of the news cycle.
Speaker 4: Yeah, which is a good thing because Elon Musk, at
least as far as the media is concerned, dropped off
off the charts because you know, he's getting too much
hate starting to affect his business and he's.
Speaker 1: Got important things going on there.
Speaker 4: I mean, we got full self driving taxis, robocaves slated
to hit the streets in the twelve days Lobo, now
if there's a game.
Speaker 2: I was just writing about this and I got some
pushback on Twitter. You know, a lot of people are like, oh,
they'll never be safe. I'll never be comfortable with a
robot driving my car and all that. I was driven
to the airport in Frankfurt a couple of days ago,
and it was a test the model, why I think,
And it had on the screen like this graphical representation
of the neighborhood. Yeah, and the trucks and the cars
would appear the road, you know, you expect that, but
the people on the sidewalk would appear, and he could
tell when somebody was on a bike and it would
you know, it would appear on the screen as a cyclist.
Speaker 1: I never I had not seen this before. But two
things like.
Speaker 2: It saw everything, yes, and it saw it before I did.
Like I'd see on the screen as a person and
I'd go, oh, yeah, there it is. So it is
really quite impressive and this is happening the UK. It
was also in the news that they are saying, well,
we're going to delay the uber robot taxis until twenty
twenty seven. What we're saying, we can do it today,
but well this is coming and I know some people
hate it, but you know what, the robot is never
going to get drunk, It's never going to get tired,
it's never going to you know, get distracted chatting on
the phone with his girlfriend or.
Speaker 1: Something, texting, texting.
Speaker 2: So I think this will man the road's safer and
I'm and by the way it does.
Speaker 5: It doesn't even have to be an electric car. You know,
if you hate see electric cars, that's not the point.
Speaker 4: It actually does have to be an electric card. Not
because of technology. It's just that electric is more responsive
than ice.
Speaker 1: Is a fact.
Speaker 4: Direct drive motors you don't have transmissions, not in the
way that cars do. It doesn't shift gears and you
have the regenitor breaking, which makes it much safer.
Speaker 5: But okay, so it makes sense.
Speaker 2: But yeah, my point was simply, I don't think people
should hate the robot taxis just because they hate electric cars.
Speaker 1: Yeah. Well, what I can tell you is this.
Speaker 4: I've been driving a Tesla for three and a half years.
I have the FSD. There are most instances it drives
better than me. It has eight cameras, so you have
three sixty vision, and its response times are immediate. You know,
no matter how good your reflexes are as a human being,
you've got a gap between sensory perception and stimulus right
in action. And it eliminates that. I've actually you had people,
you know, I've actually had people run in front of
my car pitch black road, middle of the night on
a bicycle. I didn't even see it. The car hit
the brakes. I thought it was phantom breaking. It saw
the guy before he crossed the Road's and this.
Speaker 5: Is direct personal experience. This is a here say you
had this happen to you, This happened to me.
Speaker 1: That's impressive.
Speaker 2: And so here's here's the you know, we can we
can We'll gather about AI and the science fiction of
the future. But as an investor, I'm thinking about this,
you know, what are my takeaways? And I think, well,
the technology itself has certain demands and inputs, and that's investable.
But on the other hand, you know, if you really
do have fleets of robot cars everywhere, does everybody need
to have a car? We could actually see this have
a negative impact on commodities because I mean, honestly, my
car at home, I drive it once every two weeks
or something. You know, the grocery stores around the corner ry,
I don't drive it that much. And if you've got,
you know, this ubiquous fleet of robotaxes, they're all there, Like,
do you really need to have a car if you
can snap your fingers and one shows up as quickly? Right,
So I'm thinking about this. Okay, this isn't going to
change the markets overnight, but farther ahead, I could see it.
You know where the automotive demand not just for battery
metals but for steel and everything actually goes way down.
Speaker 4: Oh, there's no question, because your car, unless you drive
it for work during work, is basically dormant ninety percent
of the time. Even if you drive it for work,
it's still going to be dormant sixty percent of the time, right, So.
Speaker 1: Basically what it does is.
Speaker 4: Commodifies ride shares effectively, assuming it can do everything. And
the one thing people don't understand you need to get
is it doesn't have to drive perfectly. It only has
to drive better than a human. It's already at that
point where it's in ninety nine percent.
Speaker 2: This was the thing, This was the very thing that
came up on my Twitter feed, the pushback I was getting, Oh,
it's it's still not safe. Ninety seven percent isn't good enough.
It's not one hundred percent. And I'm thinking, yeah, but
humans aren't one hundred percent.
Speaker 1: And okay, right.
Speaker 2: Now, I think you know, people are afraid. It's a
new technology, you know, and okay, I get it. It'll
take a while for people to get convinced.
Speaker 5: But at some point this.
Speaker 1: Should be an empirical question.
Speaker 2: It shouldn't be about how I feel or you feel,
or what we think or what we like.
Speaker 5: It'll be about the math.
Speaker 2: You know, who has a better safety record? You know,
how many people per year to the robotaxis killed per
per thousand units or whatever, and how many people do
humans kill it, and that's the end of the debate.
Speaker 4: That's it analytics, it's just data. And you know, the
cool thing is that it's already better in Florida than
ninety five percent of the people driving on I ninety
five at any given moment.
Speaker 1: It's already better. It's already And.
Speaker 2: Hey, you know what, And even if you know I
like driving, I I I don't want to have a
man if I own one of these things, or even
if I get in one of these things, I want
there to be a steering wheel in case I need
to take over for some reason or you know, the
chip gets fried. I would want to be able to
control the car, and I actually enjoy driving. I would
like there to be parties in the future where you
can rent a car if you're go driving, you know,
around on empty highways by yourself or something. But meanwhile,
if the robot is better than me doing it, I
can get work done, right, or I can watch, or
I can have you know, a text message like rohabby
or whatever important thing you know, I.
Speaker 5: Can do instead of just staring at the road, right,
you know, why not delegate that.
Speaker 4: You know it gives you, like when you try to
text and drive, which you can do with the thing.
That's how much I trust it. You can text and drive,
especially on a highway because on the highway it's really
in its element. But when you do it, it gives
you a nag and then if you keep doing it,
it kicks you off the FSD for the reportable trip.
So it's a nanny car too. But really, at this point,
there's no reason you be.
Speaker 1: Able to text and drive. It's that good, LOWO, It's
that good.
Speaker 4: And imagine the effect it's going to have on the
country because the largest job job description in the United
States is driver, every form of driver that you can
think of, truck drivers, taxis uber. It's over ten million people,
and those people for the most part going to be
out of a job eventually.
Speaker 2: If we want to, we'll gather on that. This is
something I've been thinking. You know, I'm a hardcore libertarian.
I believe in I don't believe in subsidies and freebies,
and I'm opposed to welfare, you know, the moral hazard,
all that stuff.
Speaker 1: I believe all that.
Speaker 2: But in a world, particularly during the transition, when the
robots take over so much of the work and the
AIS take over the intellectual work.
Speaker 5: I'm just not.
Speaker 2: I mean, what is everybody going to do? Not everybody
can become a post overnight, right, And where I'm going
with this is I can actually as eat an argument
or for UBI at least during the transition. And you know,
my mind recoils it the idea.
Speaker 1: I hate it. I don't.
Speaker 5: I don't believe in freebies and giveaways.
Speaker 1: You know that's you know.
Speaker 2: Everything about me wants to say bad, bad, bad bad bad.
Speaker 1: But if like half the jobs.
Speaker 2: In the world go away over the next fifteen years,
I mean, you know, what are they going to do?
Weep baskets and how many tourists can you sell a
basket to?
Speaker 1: Right?
Speaker 5: Of course I don't know the answer to this.
Speaker 4: I don't either, but I do know that not everybody
can be a podcaster, right.
Speaker 5: Well, see I've seen that creator, right, I.
Speaker 2: Have seen who was It wasn't John Stossel.
Speaker 1: It was somebody like that.
Speaker 2: You know, did one of these demos where there was
an artificial person of them doing the intro of the show.
You have to tell it wasn't real, but it's still
pretty damn good.
Speaker 1: It's good enough, right, Yeah.
Speaker 2: So for my own selfish interests. I've been looking at
this and I've been thinking, Okay, as long as AIS hallucinate,
I think my job is safe because what people me
to do is I'm a due diligence guy. Like people
pay me money because they trust me. Yeah, and it
I mean, I get everything right. I'm not one hundred
percent you know, I'm human, right, but they trust me
that I'm not for sale for some company that you know,
people can't recommend something that's crap, right, and they pay
me to actually care and to try hard. And why
bootleathered actually go look at the rocks in the ground
and try to tell if the story is true or not.
So as long as AIS hallucinate, and as long as
AIS can't, you know, put on boots and do what
I do, I feel pretty.
Speaker 5: Safe in my job.
Speaker 2: But you look at the robot, it's the Chinese are building,
and you know Tesla as well and so on.
Speaker 1: You know they are going to.
Speaker 2: Be able to apply boot leather pretty soon. So I
don't know, I'm hanging my hat right now in the trust.
I don't know how much people are going to trust AIS.
Speaker 4: For now, for now, for now, but eventually we'll have
to trust them because they're going to do stuff better
than us, better than you can, and you know what
choice do you have?
Speaker 2: Well, but let's say let's say you're a Biden Harris fan,
and the facts are that Biden was seen now during
the last part of his presidency.
Speaker 1: Sure, I don't remember.
Speaker 2: Let's say, let's say these are the facts, but you
don't want to believe these facts. And the preponderance of
the data is there such that an objective AIS says,
you know what Biden was seen now during the last
few years of his presidency, of not the whole thing.
You're not going to trust that AI, and it doesn't
matter what data it presents you. It's you don't want
to believe it, so you're not going to And not
to pick sides, you could say the same thing on
the other side, Yeah right, you know, so, I just
I think we're a long way from a world at which.
Speaker 5: The AIS are are so credible that.
Speaker 2: People will just believe them like a god, right, you know,
are we creating a digital god that we trust and
everybody trusts? So absolutely, I just don't see that happening
anytime soon. It runs contrary to my observation of human nature.
Speaker 1: Yeah, I know. I know.
Speaker 4: Well, it's a brave new world, as they say, right,
and you know you got to get with it or
you're going to get overwhelmed by it.
Speaker 1: I use it. In fact, I did.
Speaker 4: One of the first AI related related layoffs in the world.
I was paying somebody to do my show notes. She
was really great, loved her. She wasn't that fast, not
as fast as I wanted to be. And when they
started transcripting AI. You know what AI transcription? I said,
what do I need to pay her for? And it
does it instantly. I don't have to wait for turnaround.
So I'm really sorry you got to go. I used
the chat GPT to write a recommendation letter and saving
money now and it's getting done a lot faster.
Speaker 2: You know.
Speaker 4: I got to do a little work as far as editing,
because sometimes it just uses trite phrases, it just uses
things that aren't right. But over time it's getting better
and better, Lobo, it's getting.
Speaker 2: I hear you that I've gone from telling my team
when I think it was chit GPT three when it
first came out. Excuse me, I don't flog it myself,
but I've gone from telling my team I would fire
anybody who used this crap because it was so bad
and you know, so hallucinatory to Now I have somebody
on the team, you know, dedicated to seeing how we
can integrate the technology and use the research tools more
than just even on the simple basis. And please don't
worry to your audience. I still check everything. Yeah there's
still a human in the loop. But you know, my
take is still my take. Everything comes through you know
this brain. I get one together, but it's a mixed
If we want background on you know, some country I
haven't been to, not a lot of those, but you know, uh.
Speaker 1: Uganda.
Speaker 2: I've never been to Uganda, and they claim to have
found ninety three trillion dollars worth of gold. So if
I want to research Uganda, I can ask a bot
and it can produce a better summary than the CIA
factbook in seconds, right, and a human couldn't do that.
And we still need to check it. So I can't
just say well, I have all this stuff and now
you know, oh you got to check. But just that
one task of pulling together the information for me to
check so that I can read it and look into
what makes sense and what I need to follow up
on that would have been you know, some intern or
analyst weeks or a month to pull together and now
it's fifteen seconds.
Speaker 4: Yeah, instantaneous and company research. Like you said, it's not
always up to date and it's not always pertinent, so
you can't just blindly follow it. But once you have
that info, you know there's a lot you can do
with it. So AI is definitely a day of reckoning coming.
Speaker 1: The thing is lowo.
Speaker 4: People are not prepared for this. Thank somebody out there
have no idea what's coming towards you. The driving, honestly
is the least of it.
Speaker 1: It's a small thing, nursing homes with rail.
Speaker 2: I think there's an important Sorry let me jump in
because I think there's an important thing, and I'm sorry.
I'm always thinking as an investor. Sure, the financial survival
part here, there's a very important takeaway from this in
that with the with the the Chinese apparently vaulting ahead
on efficiency with a deep seek model and it's and
its cost savings and all that, there was a there
was a huge hit to the energyshy sector when that
came out. Spot uranium went down, Uranium stocks went down.
You know, all this all this huge reaction to this
bot that was I don't know what the numbers are,
but it was, you know, much more efficient or supposedly
much more EMOTIONI but this is this is very wronghead.
I know you're you're with me here, you're shaking your head.
But let's even say it was as efficient as they claimed.
Speaker 5: It doesn't matter.
Speaker 2: You can use you know, something that's ten times more efficient,
but if you're using a thousand times more of it,
you're still going to use more. And particularly on the
energy thing. The more efficient you make these box, the
more things we'll use them for.
Speaker 1: So you know, the sure.
Speaker 2: Example I just I just saw was I asked Grok
a question and like we were just talking ugan it
fifteen seconds. It gives me, you know, everything I ever
wanted to know about ugan it. If there's a button there,
I can say, well, compare you gant it to Buttswana
and tell me that, you know, give me a swat
analysis or something. Then it goes off for fifteen minutes
and it tells you what it's doing.
Speaker 1: I'm reading this.
Speaker 2: I found these papers and there's some relevant conversation on
these Reddit threads, and.
Speaker 5: It's it's doing an enormous amount of work.
Speaker 2: So okay, we save money on that fifteen second compute,
right where did that? But now it's so cheap that
we're using it for fifteen minutes doing all this other stuff.
So this this whole thing that suddenly the Chinese have
made Ai energy efficient, we don't need any more energy.
I think that's just it's flat out it's not just
flat out wrong. It's it's like the opposite of right,
we are going to use so much more energy, even
if we use it more efficient, We're going to use
more We're going to need to build more power stations.
And I think that's going to be a tailwind for
cold but I think it's also a tailwind for nuclear.
And I think that the sell off in uranium was.
Speaker 5: Not only a buying opportunity.
Speaker 7: But it was It was one of these beautiful ones
that you can see that it's for the wrong reason.
Like when something sells off for good reason, right, there's
a big problem or whatever, unity you take your lumpsy
move on if it sells off for the wrong reason,
a market panic or an overreaction to something that in
this case is maybe not irrelevant but completely interpreted.
Speaker 2: The wrong way, like this, this discovery or this development
just means we'll use more AI, which will demand more
And these big, these big data centers, they use as
much energy as is a medium sized city each one.
So I think there's strong investment implications here. And if
anybody you know was misled by this notion of oh,
suddenly we don't need any more energy for AI, do
some research. Don't ask an AI about it, but you know,
ask a real human being. I think there's an opportunity
in that mistake, that mistake in perception.
Speaker 4: Well, let me tell you I've been using AI for
God almost as long as I have been driving a Tesla.
And what I can tell you, And I just asked
chat GPT, what do you think of deep Seek And
it said that it's reportedly on a par with GPT
three point five or early Geminy. Censorship is baked in.
It avoids politically sensitive topics by design, includes training data,
party approved history, ideology, and filtered Western sources. And it
says think of it as red pill GPT, but with
G's face on the pill. And speed of iteration is rapid,
but it's basically tofu drag.
Speaker 6: AIA that's interesting is it the red pill, the one
that wakes you up to reality.
Speaker 1: I thought the blue pill was the one that was delusional. Yeah, well,
of red pill.
Speaker 4: I think it's it's making a joke about communism.
Speaker 1: You know.
Speaker 4: Oh the thing has a sense of humor. So yeah,
so interesting stuff.
Speaker 2: But I think, you know, even if if you're if
you're anti nuclear, find the whole phenomenon is profoundly I
mean transformationally requiring an energy and electric energy build out
from whatever source. And I think, I mean, heck, we
just had you know, Denmark and Massachusetts, the People's Republic
of Massachusetts and even Germany finally doing a U turn
on nuclear energy. I mean, this straws in the wind.
It's not just like one straw. It's whole freaking bales
of hay blowing by with this nuclear renaissance here. But
even if you're not into that, you know, gas fired,
beautiful clean coal, you name it.
Speaker 1: We're gonna need.
Speaker 2: It because we are going to have to double and
then double again our capacity. Hey, and let's not forget
the deep state. They're the biggest the user of AI
on the planet of the area around Langley. So you
have Langley, CIA, you have defense Intelligence Agency. Probably the
FBI's got one there as well, and they'll forget the
Nose such agency.
Speaker 1: Yeah, and the NSA.
Speaker 4: Right, So they're using more AI and more electricity than anyone.
They're gonna need nuclear power plants, modular ones literally in
their basements to keep up with all this power demand.
There's not enough solar, not enough space on the planet
for solar to feed all this stuff.
Speaker 2: That brings up sort of the dark side here. And
as much as I look forward to safer highways, I
don't really look forward to AI powered facial recognition with
the you know, cameras everywhere, not just airports anymore, I
mean every atm, I mean every stoplight these days. Is
you know, there is there is a nineteen eighty four
concern here, and I.
Speaker 1: I don't know what to do about that. There's no
stopping it.
Speaker 2: If the US just says, Okay, we're going to be
the pro freedom country, we're not going to do any AI, well,
the Russians aren't going to do that, and the Chinese
aren't going to do that, and they'll blow us out
of the water. So there's it's an arms race. There's
a choice but to go ahead, and I don't know
how to safeguard individual rights in that context. But I
sure hope the folks at Google and Apple and whatnot
are are remembering, you know, Google's supposed mandate of don't evil.
Speaker 4: They changed that slogan a long time ago. Logo they
forgot that one. But it's interesting and that the traditional
players here Meta, Google and Apple are so far behind
the curve on this AI it's it's it's not even close.
My opinion is they've already lost the battle. Maybe successive
re releases regenerations of their AI model will prove me wrong.
But until that happens, I think they're they're cooked. But
we will say, timmy, okay, all right, but you're not
cheering me up here.
Speaker 1: Brother.
Speaker 2: Well you know, maybe Sam Altman is an angel in disguise.
Speaker 1: I don't know.
Speaker 2: I sure hope that the I mean, if we do
get to the point you know that, you know, it's
iterative progress, it's getting smarter all the time. If the
thing breaks out into AGI, you know, an actual superhuman intelligence,
I sure hope that the more ethical I won't say
ethical players because I'm not sure there are any completely
ethical players here, but I certainly hope the more ethical
players get there first, because there's a potential here for
this to be a winner. Takes all kind of race.
And yeah, you know, the funny thing is, I'm not
really worried about Skynett. I'm not worried about it waking
up and turning evil. I am worried about you know,
a very powerful agentive AI built without the moral constraints
that I you know that a Westerner might design in
or even one specifically built with conquest in mind. I
can absolutely see Buten designing a supersystem to help them
take over the world.
Speaker 4: If it could exactly could not agree with you, Mara. Well,
on that note, we got to get going. Just tell
us how we connect with you, how we subscribe to
your newsletter.
Speaker 2: Well, thanks for the opportunity. It's Independent Speculator dot com.
And rather try to sell you the whole big thing,
I always just tell people that there's a free weekly letter.
Speaker 1: If you sign up for you can try it see
if you like the way. I think that.
Speaker 2: One thing I do promise is that I won't spam
you with a flood of daily advertisements. I hate that
you get one email and you can check it out,
all right.
Speaker 4: You'll make sure the AI keeps them out of the algorithm.
Speaker 1: Right, we'll try.
Speaker 4: All right, We've got a question for Lobo myself. Email
Klatcarrie LUTs dot com and you'll find a link to
the in the show that's this interview to his site
on Financial Survival.
Speaker 1: Network dot com.
Speaker 4: When you go there, we just ask that you subscribe,
like eighty thousand others of you have. Lobo, we'll talk
to you again soon. Thanks for coming on.
Speaker 3: Thank you, Kerry, thanks for listening to Carrie Letz's Financial
Survival Network. Your solution to today's trying times. For the latest,
go to Financial Survivalnetwork dot com. Financial Survival Network now
more than ever,