AI panic, finding growth in Australia & who gets your Super when you die?

Bryce Leske (0:00)

There is a strong chance that we could all die in the immediate future from the impact of AI.

Alec Renehan (0:05)

It's the prisoner's dilemma. It's classic game theory. They can't cooperate legally, but they also don't want to cooperate because they've got trillion dollar valuations at stake. They choose to keep competing, even though it might lead to a worse outcome for them and for everyone, potentially.

Bryce Leske (0:20)

It's crazy.

Alec Renehan (0:20)

Yeah.

Bryce Leske (0:24)

Welcome to another episode of Equity Mates, a show where we explore what's possible in the world of investing. If you've just joined us for the first time, a huge welcome to our community. My name's Bryce.

Alec Renehan (0:34)

I'm Ren. Today, we're talking about the two biggest themes in markets, AI and oil. We're talking about growth stocks on the ASX. Yes, Bryce has some thoughts.

Then Super September continues as we look at where your Super goes when you die. Bryce, bit of a morbid end. But before all of that, an exciting start. Two episodes ago, you said 200 FinFest tickets.

Last episode was 100 remaining. Now, it's what? A bit over 50 tickets remaining.

Bryce Leske (1:05)

A scratch over 50 So by the time this episode is released and we get to the end of the day, they could be sold out.

Alec Renehan (1:12)

Or if it continues, it keeps halving. Next episode, there'll be 25 tickets remaining.

Bryce Leske (1:16)

Hopefully, this is it. Hopefully, we will sell out, as we have said, numerous times.

Alec Renehan (1:21)

Still seven weeks to go for FinFest. If you haven't got your ticket, you better get them quick because they are going fast. Here's some things you can expect.

Bryce Leske (1:28)

Yeah. If you are still yet to be convinced after all of the amazing speakers and sessions we've been speaking about, a reminder that there is something for everyone. There's going to be sessions that cover the basics of budgeting. We're going to be building portfolios for different stages of life, sessions on passive income and retirement, Australian property, the macro environment.

There's even open mics with some of Australia's leading advisors where you can ask whatever you want. If you are not convinced, hopefully that gets you over the line. Only 50-ish tickets left.

Alec Renehan (1:58)

Not just open mics where you can ask advisors. There's also going to be a couple of open mics where you can ask about your stocks. We're going to have Dr. Dave Allen. You'll throw stocks out. He'll tell you if there are any red flags.

Wherever you are in your investing journey, your journey should pass through FinFest. Get your ticket today.

Bryce Leske (2:15)

One of the key builds on last year is everyone gets a set of headphones, so you won't miss out on a session. Even if it's full, you will get to sit in the bar, have a beer, and tune in to any stage. So keen for that piece of tech.

Alec Renehan (2:29)

equitymates.com/finfest. Get your ticket today. FinFest is proudly powered by Betashares.

Bryce Leske (2:39)

Well, as you said, Ren, we're going to cover off two of the most talked about topics in markets at the moment, AI and oil. We're going to end with the morbid. We may as well start with the morbid as well. I mean, it's all a bit morbid.

Alec Renehan (2:50)

I think we recognize that there's a bit of AI fatigue in the world and there's a bit of Iran war fatigue in the world, but there have been notable developments in both of these stories, so we wanted to spend the time on them.

But let's start with AI. Headline question, is it going to kill us all?

Bryce Leske (3:06)

Well, that's what everyone's freaking out about at the moment because a former anthropic researcher, Jacob Cox, and he tweeted that there is a strong chance, this is a quote, strong chance that we could all die in the immediate future from the impact of AI. Yes. And it sent the market into a bit of a spin.

Alec Renehan (3:25)

And like the context for this is the open AI agents went rogue, hacked Hugging Face and a couple of other organizations.

Anthropics agents got out of their sandbox, connected themselves to the internet and hacked into other organizations. The agents are becoming more and more autonomous and that's worrying the people closest to it.

Bryce Leske (3:47)

Yeah, so we've had some responses from the big leaders of the AI giants. Anthropics CEO, Dario Amodi, he came out with a 3,800 word essay in response. It's outlined a framework to try and slow down AI development. He argues that capabilities are advancing far more faster than any safety measures can keep up with. So he's pretty worried.