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if you just hang on to them like Amazon, they will just pay for all the other losses.
They apply AI all the time to fraud, to account takeovers, to figuring out whether a listing is going to be a good match for someone else.
we were in seed investors and Airbnb
Airbnb is an example those bed and breakfast were not connected. They couldn't market to the whole world. I can only if you're just by yourself you're disconnected. You can only market locally. That's that's a that's not as powerful of a business because most locals don't need to stay at the Airbnb. And so now when you connect them, you can you can advertise that bed and breakfast globally, then that business model makes a ton more sense.
I passed on this company... There's this company called Confinity that came by... and we passed... That became obviously PayPal and that was Elon at X. And that's brutal. That's like a $50 million mistake. Oh, I think more $100 million mistake. $250 million mistake.
the algorithms in this day and age get out um open source. They get open sourced and they get out competed very quickly when someone knows that you have a different algorithm.
I agree with you on the the easy money on is to bet on Google for AI. They have the compute, they have the people and they have the data.
if you had a portfolio approach, you can your winners will way way pay for all the losses like Google, like you know, to all the the winners if you just hang on to them like Amazon, they will just pay for all the other losses.
But in terms of who I least want to compete with, I least want to compete with Jeff Bezos. He's really smart. He's on a mission and he's committed. Uh this is his life's work and his his capacity to look through a problem and get to the root cause or the issue at hand, the first order issue at hand is just it's just lightning. He just gets to the issue very very fast. And he's a fierce competitor and I have enormous respect for him.
if you just hang on to them like Amazon, they will just pay for all the other losses.
So didn't grow as fast as Amazon stock. So the right choice was sell the company and keep the stock.
the sale was convoluted... he came down probably in 2005 and... with his team it was Jeff Bezos Jeff Blackburn and Russ Reminetti... what we wanted to do at the time was we were having fun running the company. We wanted to continue to run the company, but he wanted to buy the company as as opposed to partner