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Invest Like the Best with Patrick O'Shaughnessy

Bret Taylor - The Agent Era - [Invest Like the Best, EP.386]

Invest Like the Best with Patrick O'Shaughnessy

Colossus

Investing, Business, Technology

4.8 β€’ 2.4K Ratings

πŸ—“οΈ 3 September 2024

⏱️ 89 minutes

🧾️ Download transcript

Summary

My guest today is Bret Taylor. His resume is absurd. He built google maps--famously rewriting the whole thing in a weekend. He was the CTO of Facebook in critical years. He founded Quip. He was the chair of the board at Twitter. He was the co-CEO of Salesforce...the incredible list goes on. Now, Bret is the co-founder of Sierra, a conversational AI platform for businesses, and he is the chairman of the board at OpenAI. We discuss the past, present, and future of AI agents: new programs that will begin doing incredible amounts of work for us humans in astonishing ways that are a thrill to talk about. Bret believes agents will become a meaningful part of the future and transform the ways in which we interact with technology. We discuss a strategic approach to AI integration, the different categories of agents and their scopes, and the essentials of craftsmanship. Please enjoy this discussion with Bret Taylor. For the full show notes, transcript, and links to mentioned content, check out the episode page here. ----- This episode is brought to you by Ridgeline. Ridgeline has built a complete, real-time, modern operating system for investment managers. It handles trading, portfolio management, compliance, customer reporting, and much more through an all-in-one real-time cloud platform. I think this platform will become the standard for investment managers, and if you run an investing firm, I highly recommend you find time to speak with them. Head to ridgelineapps.com to learn more about the platform. β€” This episode is brought to you by Tegus, where we're changing the game in investment research. Step away from outdated, inefficient methods and into the future with our platform, proudly hosting over 100,000 transcripts – with over 25,000 transcripts added just this year alone. Our platform grows eight times faster and adds twice as much monthly content as our competitors, putting us at the forefront of the industry. Plus, with 75% of private market transcripts available exclusively on Tegus, we offer insights you simply can't find elsewhere. See the difference a vast, quality-driven transcript library makes. Unlock your free trial at tegus.com/patrick. ----- Invest Like the Best is a property of Colossus, LLC. For more episodes of Invest Like the Best, visit joincolossus.com/episodes. Past guests include Tobi Lutke, Kevin Systrom, Mike Krieger, John Collison, Kat Cole, Marc Andreessen, Matthew Ball, Bill Gurley, Anu Hariharan, Ben Thompson, and many more. Stay up to date on all our podcasts by signing up to Colossus Weekly, our quick dive every Sunday highlighting the top business and investing concepts from our podcasts and the best of what we read that week. Sign up here. Follow us on Twitter: @patrick_oshag | @JoinColossus Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com). Show Notes: (00:00:00) Welcome to Invest Like the Best (00:04:27) The Dynamics of Small Teams in Software Development (00:05:46) Challenges of Large Teams and Bureaucracy (00:06:27) The Google Maps Legendary Rewrite Story (00:13:59) Introduction to AI Agents (00:16:48) Types of AI Agents and Their Applications (00:22:15) Building Robust AI Agents for Customer Experience (00:33:28) The Future of AI Agents and Customer Interaction (00:45:12) Impact of AI on Productivity and Inequality (00:51:05) Technological Evolution and Societal Changes (00:56:25) The Role of Multimodal Models in AI (00:57:19) The Future of Human-Computer Interaction (01:00:15) Building Companies in the AI Era (01:05:36) OpenAI's Unique Structure and Mission (01:11:22) Insights on Sales and Customer Success (01:20:06) Balancing Ambition and Personal Life (01:21:35) Preparing for the Agent Era (01:26:20) The Kindest Thing Anyone Has Ever Done for Bret

Transcript

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0:00.0

This episode is brought to you by Ridgeline.

0:02.0

During my days at O'Shaughnessy Asset Management,

0:04.3

I was dying for a product like Ridgeline,

0:06.2

a single cloud platform that could power our entire firm.

0:09.5

We once spent years on an operational project

0:11.7

with the goal of getting our traders set up earlier in the morning.

0:14.4

It was grueling and incredibly impactful, but it took years.

0:17.8

If Ridgeland had been around then, our problem would have been solved instantly,

0:21.4

and Ridgeline would have provided an even better solution than the one we came up with.

0:25.6

Ridgeline has solutions to not just save time but to open more opportunities to make money.

0:30.0

With real-time visibility into positions, outstanding trades, and the cash balances, you have an intraday book of records.

0:37.0

That means less cash drag and more opportunity to drive Alpha.

0:40.0

In their first month, Ridgline enabled a customer to deploy $27 million in cash that would have otherwise remained uninvested.

0:47.0

By collecting data from various systems and consolidating into one place, Ridgeline simplifies the process. Trade settlements have been faster and therefore your team can put money to work faster.

0:56.7

I'm confident in saying that if you run an investment firm, you should find time to speak with them to be sure you're

1:02.0

positioned to perform to the best of

1:03.6

your firm's abilities. To learn more check out Ridgline apps.com that's Ridgline APs.com or

1:10.5

click the link in the show notes.

1:13.0

This episode is brought to you by TIGAS,

1:15.0

where we're changing the game in investment research.

1:18.0

Step away from outdated, inefficient methods

1:20.0

and into the future with our platform,

...

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