AI has the chance to improve EPS growth for the S&P 500 by 2% per annum In exchange for this growth potential there is a 10% chance AI might cause an extinction level event for humanity This seems fair That’s why it’s called a risk premium
The value of a degree is in question, as tuition costs have increased in the last few decades while the college premium-the expected benefit from getting a diploma-has flatlined and possibly even declined in the last few years.
there still seems to be an enormous premium on cognitive ability. And so, I wouldn't I I I I think, um, renouncing that before there's evidence that we've saturated, uh, those benefits would be premature.
Standardized systems are important, and there is a systems premium in the US and UK, but it can't be about a regular pipeline because London has that and yet Crossrail engaged in some really dodgy systems decisions that drove costs up.
So with one, you get the effect that the person produced art print is valued much much higher than the than the AI version. And then what we do is to say there's in a set of other conditions, there's 500 of these being produced. So for the human made one, the price goes down a lot because it's no longer seen as like you're not like making a connection with this one artist versus with AI, there's no difference. AI is already viewed as like a commodity.
and so I think this is interesting just modernization learning that especially if you work on a premium product try to have your free product be a reflection of like everything that your product can offer you. Obviously, to an extent, there's some costs involved with some of the paid features and things like that, but it generally will pay it for itself if you're able to put your best foot forward um and go do that.
So premium is one source of our revenue. We also have ads, but they're context-based, not targeted. Of course, we leave probably 80% of value on the table because we're not ready to engage in all this practices, exploiting personal data.
The interesting Tesla point is people always looked at it and said, "It's the iPhone of cars." No, it's not. What's happening is that cars are becoming Android with no iPhone. And then Tesla is just selling and is is in that metaphor Tesla is just another android phone maker
Well, we’ve divided the New York cost premium into three tranches: labor (mostly overstaffing, not high wages), station and system design, and procurement and soft costs.
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