WEBVTT

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We have just had President Trump talk

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about AI and his commitment to keep

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investing. Do you feel that the space
of AI will belong to large companies or

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will it be more distributed to more
towards more small and niche companies?

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Well, normally it starts off with small
companies, but in our industry you start

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small and then you grow huge really
quickly because the gains are so strong

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and the value is so high. That of course
is what happened at Google. It's what

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happened at OpenAI and it'll happen
with the others as well. The president was

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very very clear that he that he
understands that we have an energy

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problem that he needs to get fixed.
So I guess he heard that from Elon and

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everybody else, but it's it's profound.

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America to lead will require enormous

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energy supplies. And if we get them, we

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can lead. >> How do you
feel Elon Musk having a pos

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the position he has right now?
It's unprecedented. It

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>> it is unprecedented, but Elon is both
a friend, but also he's a very strong

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advocate for some of the tech positions.

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So, for example, Elon, who came in on a

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special visa, is very focused on high

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skills or high tech visas.
And the normal average Republican doesn't

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understand that. They think people are
the same. It makes no sense to take the

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smartest people in the world,
educate them in the US, and kick them out,

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right? We want them to keep them here.

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It makes just common sense.
>> And like most people, you know, Elon

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Musk. So, what is there you would like
to share? What we can expect from a

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personality like himself being
so high up in the government?

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>> Well, Elon is a truly brilliant
human being. If you look at his

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accomplishments, I mean,
in in the pantheon of people of great

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significance, he's a true genius. We'll

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see. um politics is new for him. Uh I

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would personally stay out of it
because it becomes irrational but as a

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businessman his
accomplishments are profound.

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>> And how do you feel
about businessmen in

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a way taking over governance?

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>> I'm not sure that in the US businessmen
have taken over governance so far. The

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political processes are still largely
filled with lawyers and people of that

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ilk in America on both sides. Um,
the key thing that that I heard from

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President Trump today was a focus
on business growth. And I think that was

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the message for here in the audience.

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And I think it was extremely wellreceived.
What he's saying basically

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is America is back. This is what he's
saying, not me. America's back. We're

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going to invest and we're going to lead
and you should invest more in America.

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That's good for Americans.
>> In the past weeks, have you felt this

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excitement in America? Have you felt a

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positive business atmosphere? One half

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of my friends are incredibly happy and

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the other half are incredibly unhappy.

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So I think the wounds of the election
have not been repaired yet.

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>> What are you busy with these days?

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>> Um I'm mostly working on the next
generation of artificial intelligence.

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Today you have things like chatbt which
is super that's language to language.

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You're beginning to see planning
or strategy. When those two combine you'll

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have systems that can really make you
smarter. that can really allow you to

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achieve things, solve this problem,
build this business. One one woman I was

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talking to said she wants to be the CEO
of a company with no employees because

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she thinks that a computers will be
capable of doing all the things she

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needs in her corporation. And I said,
"You've got to be kidding." And she

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said, "I'm not." >> Do you
find it a little bit scary?

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>> Um, I think that the drive
for efficiency and growth benefits

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everywhere. If you look at globalization,
which we've all benefit

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benefited from, the integrated supply
chains, movement of people across

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borders has made the world safer, fewer

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wars, fewer deaths, so forth and so on.

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And our codependency is net positive.

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People will have to adjust, but making
things smarter, more profitable, more

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money in the system benefits most people.

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>> We have had many things tonight
with President Trump's announcement. Of

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course, he mentioned tariffs as well.

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What for you was the most important part?

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>> Well, if speaking as a person in the
audience, uh the progrowth message for

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the United States, >> do you believe
in the growth progrowth message?

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>> Well, the United States is growing
and our European friends are not they've

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chosen not to grow for whatever reason.

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Um the Arab countries, Saudi, UAE, are

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all growing very well. India is growing

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very well. China's in deep dudu. So,

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excuse the technical term. So the core

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problem here is that democracies where

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democracy that don't grow don't have

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money to hand out the spoils of growth.

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You can't solve the problem.
So democracies that don't grow eventually

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die. So growth matters.
>> Would you invest in Europe right now?

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>> Um actually no. And the reason I would
not invest in Europe is Europe has not

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decided to grow yet. Um the governance
structure within Europe is so

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complicated. 27 countries, Brussels, all
the regulations and so forth. It's very

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hard to see how you can
break into a growth mindset.

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>> At the FIR priority here in Miami,
we hear a lot about investment with a

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purpose. What does it
mean for you personally?

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>> Well, I've always thought that in
investing to a higher goal is always the

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right answer. Google was organize the

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world's information. It wasn't to make

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money. You made money as a byproduct. So

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having a sort of mission-based company,

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right? we solve this problem, you know,

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we help moms with their kids or whatever
it is. We help educate people who don't

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do not otherwise have access to education.
We make their health care

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better. Those resonate employees want to

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work for higher purposes than just
a boss and a profit and a salary.

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>> Thank you very much, Dr. Schmidt.

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>> Thank you.