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Motley Fool Hidden Gems Investing

The Business of Nightclubs

Motley Fool Hidden Gems Investing

The Motley Fool

Business, Investing

4.33.1K Ratings

🗓️ 25 September 2023

⏱️ 30 minutes

🧾️ Download transcript

Summary

RCI Hospitality CEO Eric Langan on consumer spending, capital allocation, and getting into the casino business. (00:21) Jason Moser and Deidre Woollard discuss: - The wisdom Amazon’s bet on Anthropic. - Why Amazon is getting into charging for streaming. - If check-out-free technology is finally reaching its tipping point. (12:25) Ricky Mulvey interviews the CEO of RCI Hospitality, Eric Langan on his view on consumer spending, capital allocation, and his journey to the CEO seat. 5 Stocks Under $49 report here: http://www.fool.com/report. Companies discussed: AMZN, WMT, DIS, RICK Host: Deidre Woollard Guests: Ricky Mulvey, Eric Langan, Jason Moser Producer: Ricky Mulvey Engineer: Dan Boyd Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

Maybe don't fear your AI overlords. Go to my club instead. Motley full money starts now.

0:21.0

Welcome to Motley full money. I'm Deidre Volard here with Jason Moser. Jason, how you doing today?

0:25.2

Hey, doing great. How about you?

0:26.3

Doing great. Good. Well, the big news today was Amazon investing up to four billion in

0:32.2

anthropic. So anthropic, the open AI rival created by former open AI employees.

0:39.3

This is a deal that includes anthropic using the AWS cloud, of course, and

0:44.2

Amazon's training chips, which are the things like training. What do you think,

0:49.2

Amazon is hoping for with this deal? Well, I mean, they're certainly looking to to make

0:54.6

inroads in the AI space and sort of establish their own little, their own little

0:59.8

corner, right, of dominance, so to speak. And that's, I think you see them

1:05.3

getting in there with their own chip designs, right? I mean, like you noted, I mean, they're

1:10.0

going in there and using their own chips in order to be a part of this. I mean, I think it's

1:16.0

interesting to see open AI. All of these are connected, right? I mean, there are all these

1:20.8

former executives from from open AI and they're all kind of going their separate ways. And so

1:25.8

you see Amazon making its own little bit here in anthropic. I did a little digging. I was looking

1:30.9

at anthropic because anthropic is not a publicly traded company, but it's interesting to see the

1:34.8

other investors in anthropic because it's not just Amazon in this case, right? Google is an

1:40.6

investor in anthropic sales force and zoom video communications as well through their ventures arm.

1:45.6

So again, you kind of go back to how these are all connected. I think it's very, very interesting.

1:50.6

I do think that Amazon making this investment with the goal of using their chip designs, right?

1:57.3

The the trainium chip. And I think there's another chip design as well. Yeah, in French. Yeah,

2:02.3

in French. Yeah, that's it. That I'll be interested to see sort of how that plays out against

...

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