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Hello and welcome to another episode of the Odd Lots podcast.

I'm Joe Wisenthall.

And I'm Tracy Allaway.

Tracy, when we talk about AI, we talk a lot about the big labs, the big independent labs, particularly open AI, an atropic. But of course, we know that the legacy tech companies, the so-called hypers, et cetera, they're not just going to give up this groundbreaking technology without a fight.

No, and we've certainly seen various efforts to,

I don't want to say catch up, but like to keep pace, I guess. Keep pace. Yeah. So of the major

legacy companies, you know, which I would say are like Microsoft, Amazon, meta, and Google, or

sorry, alphabet, I would say clearly like alphabet is the one that has the model that

people are, you don't talk about, Gemini, right? And in a way, that's kind of surprising because one

common intuition that people have is that companies aren't very good at developing the thing

that disrupts their own legacy business, right? This is just a famous sort of

B-school thing that people talk about all the time. Yes. So the issue, one would think,

with AI and Google in particular, is that Google, you know, famous for its search. Yeah.

No one believes me, by the way, the first time I ever used Google in like, I guess it was the

either late 1990s or early 2000s. I told my parents to invest in the company and they didn't listen to it. Yeah. They don't believe me either, but I swear I did. The first time I used it, I was like, oh my God, this is so much better. So I feel so dumb because I remember the Google IPO very well. And I thought I was very smart because it was like I was 20,

I think it was 2004. I was very, I thought I was very smart back in those days. I don't think, now that I'm older, I realize I don't know anything. But I thought I was very smart. I was like, oh, these sheep, they're just buying. It's overvalued. Should I short this IPO? It's like a bubble, et cetera. Thank God I didn't like put on some short trade and go bankrupt.

But like I, it never occurred to et cetera. Thank God I didn't like put on some short trade and go bankrupt.

But like it never occurred to me to go long because I don't, and I think it's the journalist temperament. We're all like very cynical and cynical. That's right. You have to be an optimist to be an investor. Yeah, you have to be an optimist. You have to be willing to be part of the crowd. You have to ride the wave. We don't really like riding waves, et cetera.

And so, like, I was like, oh, I should I short this?

Anyway, I should have bought it.

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