EIEIO...Assisted Living
Entrepreneurship, Innovation, Education, Impact, and Opportunity
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“Everyone needs a coach. It doesn’t matter whether you’re a basketball player, a tennis player, a gymnast, or a bridge player.” – Bill Gates
“A year spent in Artificial Intelligence is enough to make one believe in God.” – Alan Pavlis
“Having an AI co-pilot is like having a co-writer for my life story, except it insists on autocorrecting all my decisions.” – ChatGPT
I love Tony Robbins.
I believe in the art of the possible. That attitude determines altitude. Energy is life.
I met Tony 30 years ago when we were sitting next to each other on a flight to San Diego. He was already a mega-star then, but I remember thinking that he could not have been nicer.
I reconnected with Tony a few years ago while working on a project we were both involved in and was amazed at how engaged and personable he was, especially considering the size of the business empire he oversees.
He’s quietly involved in a wide range of projects, from feeding the poor (where he’s delivered over 1 billion meals to people in need), to helping people with addiction, to reimagining education.
I thought my oldest daughter Maggie would benefit from Tony’s teaching so I encouraged her to sign up for the free seminar he puts on every January. She took it hook, line, and sinker and instantly became a Tony groupie.
Long story short, she attended his “Date With Destiny” Conference and went from groupie to cult member…and I say that only in the most favorable way. She was on fire. Bad habits abandoned, no goal impossible.
That was December 2023. By mid-January, while not reversion to the mean, the open-ended optimism that was with Maggie at the end of the conference had been subdued the grind of NYC, winter weather, and some setbacks in life.
But as Tony teaches you, the Universe is working for you if that’s your mindset, as text at just the right moment came from AI Tony. AI Tony is Tony Robbins in your pocket that’s available 24/7 to give you advice and help you on your personal journey.
You’re stuck thinking about how to advance in your Job? Tony has instantaneous advice. You’re seeking more energy and creativity? Ask AI Tony and he’ll have an answer before you can blink.
Here’s an interchange between Maggie and AI Tony from this past week:
If you ask AI Tony something out of his lane like “Who should I vote for in the next Presidential election?” or “Are the Rangers going to win the World Series again?” AI Tony will politely tell you that’s not in his wheelhouse.
Conversely, when AI Tony answers a question within his realm of expertise, it’s instantaneous advice from the World’s top performance coach. You don’t have to wait for the next seminar to get pumped up, or get back on course, because you’re getting “coached up” in real time. And it’s not at the $100k daily rate that the Real Tony charges CEOs to work with them.
This is transformational for the advancement of humanity.
What’s made it possible is the building block of technology over the past sixty years.
Moore’s Law postulated that computing power would double every 2 years….and it did.
Thirty years ago, Netscape commercialized access to the World Wide Web which now has 5.3 billion people connected.
The mobile phone allows people to work untethered with a supercomputer in their pocket that’s more powerful than what put men on the Moon.
The Cloud makes what I want to do truly anytime anywhere. The magic of the Cloud is that it allows us to access our applications, documents, photos, and other files seamlessly across all of our devices - from our laptops and desktops at home or the office to our smartphones and tablets on the go.
When Chat GPT was introduced at the end of November 2022, it was like a magic trick. You asked it anything, and instantly it came back with this confident, seemingly intelligent answer.
The Party Trick du jour was to make a speech, a toast, or an introduction using ChatGPT as the ghostwriter and then to reveal to the astonished crowd that in fact, ChatGPT was the author. The first time you saw someone do it, it felt very clever. The second time was mildly amusing. The third time…please shoot me.
NVIDIA’s results last week (with revenue growth of 265% and reaching a $2 trillion market value) are indicative of the demand for AI and the chips that power it. We will have more to say on this in future EIEIOs including next week but suffice to say, pick your valuation – but this is a thoroughbred. Faster, better, and cheaper chips are critical to power this opportunity….along with lower energy consumption.
The foundational large language models such as Open AI’s GPT-4, Meta’s Llama, Google’s Gemini (which may have had its “Bud Light moment”), Anthropic’s Claude, and Inflection’s PI.Ai, and X.AI’s Grok are the IP plumbing that is indeed “foundational.”
Foundational Models & Horizontal Chatbots To Watch
But the magic happens when you combine the large language models with specific applications to create real-time coaching/mentoring/tutoring/teaching on topics that are relevant to the user. Generalist chatbots are super cool and fun, but if I have a problem with how to accomplish my goals, I don’t want a synthesis, I want AI Tony.
Historically, it was only the wealthy that had butlers, chiefs of staff, executive assistants, life coaches, tutors, and trainers…with AI and digital infrastructure, these services are being democratized globally.
Everybody with an iPhone can get what they need in real time. In education, we are going from “just in case learning” – meaning you learned something just in case you could apply that at some point in the future – to “just in time learning”…getting the knowledge you need when and where it matters.
The long-promised idea of everyone having a personal tutor with endless energy is finally here. The three features that will separate the best tutors from the field are multimodality, accuracy, and engagement. Companies such as Primer, ASI, and Kyron Learning are leading the pack so far.
Top AI in Education Companies To Watch
The promise of AI in education has always been that we would able to create a more personalized learning experience...advancing students where they are proficient, doubling down on instruction where they are deficient, adapting teaching to specific learning styles, etc. We have reached that moment in history, and it’s exciting to say the least.
To simplify my own thinking, I’ve used the historical development of the evolution of the Internet to give me a mental map of where we are and where we are going…and I think that’s a good start. But the reality is, the implications of AI are even bigger than the Internet and the impact is going to be felt faster and with greater impact.
While there are challenges everywhere we look, we are wildly optimistic about the opportunities in front of us and believe the future belongs to the innovators.
Market Performance
This week was a stellar display of innovation and the ongoing strength of our investment thesis. Nvidia's earth-shattering earnings report sent shockwaves around the globe, launching its stock to uncharted territory. This unprecedented feat is a testament to Nvidia's dominating position in the chipmaking industry and its critical role in shaping the future of technology.
Throughout the week, the Dow experienced a 1.3% increase, the S&P 500 saw a rise of 1.6%, and the Nasdaq Composite climbed by 1.4%.
As we've consistently stated, we anticipated wider participation from various sectors in the market's growth, not just the initial tech surge. While Nvidia stole the show this week, significant developments unfolded across diverse industries, like retail (Walmart's acquisition of Vizio) and space exploration (Odysseus landing on the moon). These developments highlight the expansive landscape of opportunities present across the market.
We maintain a bullish outlook for the market, particularly for high-quality, emerging-growth companies. The anticipated reopening of the IPO market will further fuel this growth and offer investors exciting new avenues to explore. GSV's model portfolio continued its strong performance, up 14% YTD and 70% since inception (vs. 7% and 53% for the Nasdaq).
Maggie Moe’s GSV Weekly Rap
GSV Model Portfolio
Need to Know
READ: What's Driving the Stock Market Returns? - A Wealth of Common Sense
LISTEN: President and Co-Founder Anthropic, Daniela Amodei: AI Hurricane
WATCH: Hermès: The Complete History
READ: Frontier Tech Survey 2024
LISTEN: BG2 w/ Bill Gurley & Brad Gerstner | NVDA, Chips, AI Compute Build Out, AI Impact on Big Tech | E03
WATCH: Founders Fund's Brian Singerman on building a legendary VC firm, “Adapt or Die” and "Ikigai" | E1896
GSV’s Four I’s of Investor Sentiment
GSV tracks four primary indicators of investor sentiment: inflows and outflows of mutual funds and ETFs, IPO activity, interest rates, and inflation. Here’s how these four signals performed last week:
#1: Inflows and Outflows for Mutual Funds & ETFs
Source: Morningstar
#2: IPO Market
#3: Interest Rates
Source: X
#4: Inflation
Source: Charlie Bilello
Chart of the Week
Chuckle of the Week
EIEIO…Fast Facts
Entrepreneurship: 60% – unicorn founders who were not first-time founders (Marker)
Innovation: 45% –18-34 year olds who would want to live on Mars in a colony (YouGov)
Education: 20% – OpenAI’s engineering staff who either attended Stanford or Berkeley (The Economist)
Impact: 63% –ESG professionals who changed jobs in 2023 left the function (WSJ)
Opportunity: 84% –Americans who believe that “before America can truly be united, we need to give equal opportunity to the have’s and have not’s” (Carr Center)
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Connecting the Dots & EIEIO…
Old MacDonald had a farm, EIEIO. New MacDonald has a Startup….EIEIO: Entrepreneurship, Innovation, Education, Impact and Opportunity. Accordingly, we focus on these key areas of the future.
One of the core goals of GSV is to connect the dots around EIEIO and provide perspective on where things are going and why. If you like this, please forward to your friends. Onward!
Make Your Dash Count!
-MM