Battle of cryptos nyc
We're seeing it evolve, as well, where people started from shorter-form generations and now we're getting really, really long form. We're getting creative writing, we're getting scripts and novels. And then code. I've seen the demos from Replit — it's pretty extraordinary. And so code is the other effort where we're seeing a lot of both exciting founder development and then also user interest.
The other categories — the boxes on our landscape that are relatively sparse now — I don't think they're gonna be sparse for long. When I first put out our blog post about how the tech and how the different pieces of technology are becoming ready, I thought 3D, video, bio, they were going to take longer based on some conversations.
I think similar to what you saw with text and image happen where the models were a couple years back, I think you'll start to see the application space start to flourish for these other modalities as well. Are there any areas on the map that you left off that you're excited to see happen someday? Any other to-be-discovered areas? We organized the map by modality, which I thought was most relevant just because it's the enabling technology that is creating the application within each box.
I do think that a lot of the most interesting companies will own the end user, but they will be multimodality. Another would be this concept of an AI companion or AI copilot. It doesn't really fit neatly in the map anymore, but you have something intelligent — browse the web, stitch together all your different tools to do things for you — versus currently the map is very much focused on tools that you work with for a very specific test task.
What do you think about the hype cycle around AI right now? Well, I would be alarmed if the hype was really high and the results weren't there. The hype is high, and I think part of that is, again, people emotionally want to attach onto something that gives them hope and optimism, but the results are there as well. You see what these models are capable of doing. You see the fundamental technology. You see the applications that people are starting to build.
So absolutely the hype is high. I think it's absolutely justified given the results that we're seeing. My hope is actually that by putting out this landscape, we plant that seed and a lot of future founders that have been trying to figure out what to build next, I think it's wonderful to draw them to this.
What about some of the ethical concerns? What do you think the role of investors should be in addressing some of these? I agree with the ethical concerns. The copyright concerns are a problem that's really important and hasn't been solved yet. Ideally, this is a constructive dialogue between all folks on all sides of the table because until there is that clarity, I think it's very hard to make progress.
I think our role would be helping ensure that whatever rules are crafted are clear so that once you have that clarity, everybody can innovate on all sides of the spectrum, and hopefully everybody feels good. One of my favorite responses to your map was if it was truly generative AI, it'd be able to generate a market map itself. Are we gonna get to that point anytime soon?
Before even the map, we put out this blog post of what was going to happen. It wasn't clear in my head even how to define generative AI. So that became a lot of the base for our article. It wasn't just a joke that the article was co-written with GPT-3; it actually was. What I would have loved is if we have eight companies in a bucket on the map somewhere, I would have loved to have a natural way for having a machine that would browse the internet and find companies that sound similar and suggest them for my map.
In September, urged by Suarez, the city commissioners of Miami voted to receive its share. Chester Spatt, professor of finance at Tepper School of Business of Carnegie Mellon University, said mayors announcing their interest in crypto is a PR game to attract the younger population and the business community that appeals to them. The year-old Democratic mayor-elect said in the same interview that he will aim to build a pipeline of diverse young people who understand crypto to fill jobs in the industry, following the trend that millennials have been significantly increasing their participation in cryptocurrency during the pandemic.
Adams has not responded to a request for an interview. More mayors have publicly claimed their admiration of crypto. Not only is this a bad economic strategy for NYC and a bad investment decision, it also seems like a conflict of interest. What benefit have you gotten doing this? None whatsoever. The city of Miami is not a licensed charity.
But there also has been some pushback. And with the tech influx, real estate prices and cost of living are rising in the city, in turn exacerbating income inequality. If you want to think big, invest in your future, and create a life for your family, bring your talents to Miami! As more cities join the crypto race, Spatt raises legal and regulatory questions, including labor, minimum-wage laws, and requirements related to transacting in dollars. And ultimately, the biggest unknown is what will be the impact of federal regulations.


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