AI Companies Are Worth Zero… Here's Why

SPEAKER_1 (0:01)

Welcome to the Money Tree Investing Podcast. Stock market, wealth, personal finance, value stocks. Invest in your life.

Kirk Chisholm (0:10)

Hello, Smart Money Tree Podcast listeners. Welcome to this week's show. My name is Kirk Chisholm. I'll be your host. And today, I'm joined with Doug Heagren. Hey, Doug.

Douglas Heagren (0:17)

Hey, Kirk. Happy Friday.

Kirk Chisholm (0:19)

Happy Friday. It is a beautiful Friday. It is 80 degrees, and probably the last one we'll see yesterday and today have been beautiful, so I'm looking forward to getting back outside while I can.

Douglas Heagren (0:29)

I guarantee it, because it got cold this morning here. It was 39 degrees to open the day, so.

Kirk Chisholm (0:34)

Yeah, but isn't like that all the time up where you live, Doug?

Douglas Heagren (0:37)

Well, that's true. We get just enough warmth to get the igloos to glaze on the outside, which then allows once it freezes back up, it solidifies the foundation.

Kirk Chisholm (0:47)

Nice. It's like a ham. Good glaze makes everything better.

Douglas Heagren (0:52)

Exactly.

Kirk Chisholm (0:53)

Well, this part of the country is definitely fall, leaves are starting to change, beautiful time of year. All the leaf peepers are coming from other parts of the country to see it, and they should. It's a wonderful time of year.

It's my second favorite time of the year. So it's good. I like the fall. Summer is my favorite, but falls, and then the winter, I don't know. I like them all. Spring, I don't like because I get allergies, but the rest of them are pretty good. So it's one of the reasons you live here because the changes in seasons.

Douglas Heagren (1:18)

Love those places with a lot of trees. I've lived in Denver and the aspens are gorgeous in the mountains there. I've lived in Dallas. You just don't get, autumn is definitely a whole different base when you get up to the colors of the north.

Kirk Chisholm (1:31)

Yeah, 100 percent.

Let's dive right in here. I got a lot to cover and frankly, given all the stuff going on in the world with AI, a lot of time to think about it. We started talking about it last week about AI and certainly the golden rule of AI, don't use AI to save yourself time to waste other people's, I think is a golden rule we should all solidify and agree on because too many people are using AI as an excuse to be lazy. Now, for those of you who have been consistently listening to the show for a while, it's taken me about a year to really come together with a format and an outline of my thoughts on AI. It's taken me that long because I think there's a lot of trends and counter trends going on in AI, and what we hear about is all the cool stuff that is doing and it's going to change the world. Then once in a while we hear, oh, it's going to end humanity. I forget who it was. It was some guy who worked at Anthropic for like a week and then quit and said, there's a 10% chance it's going to end humanity. If there's a 1% chance it's going to end humanity, then the leaders of Anthropic and OpenAI and Brock and all these should be in jail. They should all be in jail because if there's any chance it's going to end humanity, you should be in jail for keep pushing towards that goal. Sam Bankman Fried, he had this thought that if he could end all the global problems, but there's a 1% chance could kill everybody, would he do it? He's like, yeah, sure.

You're nuts. There's a reason he's probably better he's in jail if that's what he's thinking. It's like altruistic, I forget what it's called. I'll have to look it up.

Douglas Heagren (3:07)

Effective altruism.

Kirk Chisholm (3:08)

Yeah, effective altruism. There's like the Silicon Valley mucky mucks who think they're smarter than everybody else. I live in Boston. I grew up here. We call them the ivory tower elites or the nimbies, the not my backyard elites or the limousine liberals. It's all these people who think they're smarter than everybody else, and they want to help all these other people as long as they can tell them what to do.

Now, not all Democrats are like this, but around here, there's quite a few. It's the same. In Silicon Valley, they get their own. They're like, well, we're smarter than everybody else. We're just going to come up with new shit. I understand the culture out there and I get it. In some ways it's good, but that kind of thinking is just what causes real, real global problems and has throughout humanity. There were times where people were looking at genetics and saying, well, these people are better than these people, so let's figure out how we get more of these and less of these. It's just not good. Let's all admit that's not good. Anyway, as we're looking at AI, here's a few frameworks I want you to think about.