The Future Of Tech Is Looking Bright! | Porsche Bets Big On Artificial Intelligence Investment | B2B Vault - The Biz To Biz Podcast | Episode 252

You are now watching the Biz to Biz Podcast with Allen and Justin. Yo, what's up everybody? It's Justin live from B2B Vault, the Biz to Biz Podcast sponsored by Nationwide Payment Systems, hosted by this guy, the George Costanza of payment processing himself, Allen Kopelman. And in today's podcast, we'll be discussing some, uh, industry news, some tech news, you know, stuff that, uh, we thought that was interesting, just wanted to, you get our, you know, get it out there for you guys. Anyway, how you doing, man?

I'm doing well. Now, if anybody can guess what team hat Justin has on, we'll send you some, uh, some swag.

Yeah, there you go.

You have to guess the team though.

It's not as easy as you think.

Exactly.

Anyway, uh, yeah, I'm doing great. So you want to just hop right into it?

Yeah, we can. Well, let's say we give— I went to the Marlins game yesterday. And they had a moment of silence for Willie Mays.

Allen just told me that Willie Mays passed away a couple days ago. I totally didn't, where was I? I didn't see this news.

You're a big baseball fan, I thought you were out.

I know, I didn't see that anywhere.

And the Marlins won, walk-off hit by Otto Lopez.

Go Brewers. Brewers are in first place.

Okay, yeah, the Marlins, not doing so good.

The Marlins are not in first place. Not doing so well. It's a nice jersey though.

Yeah, nice jersey, Jacob Allen Kopelman.

Why does it say get punked?

Get pucked, because Jacob was a big fan of that pitcher. Oh, get puck. Pucked, puck.

Oh, it's like get, okay, now I get it.

So, get puck.

Okay, okay.

And he pitched yesterday.

How'd he do?

Like an inning and a half. He did okay.

Oh, nice.

So, it took him, he struck out like 4 people and then one guy jacked one, but they caught it in the outfield and they took him out.

Yeah, man, Frelick saved a grand slam yesterday, bro. Like, that was insane. And our center fielder, that dude is— rest in peace to Willie Mays, man.

Yeah, straight up known for the basket catch. He's just a great one of the guys, one of the, one of the longtime greats. And they did make fun of— they did kind of bring Willie Mays into the whatever, comedy culture and the movie Major League, which we both like.

Oh, Willie Mays Hayes.

Willie Mays Hayes. Wasn't that Wesley Snipes?

Yeah, Wesley Snipes.

Yeah. I run like Hayes and I play like Mays.

Who's Hayes?

Bob Hayes from the, he was the fastest man in the, like in track back in the day.

Oh yeah, way before my time.

That was like in Willie Mays' days. He was like the track star.

Oh, okay. Now I know who you're talking about.

He was a wide receiver. Running back for the Dallas Cowboys when it was Roger Staubach days.

I remember when the— I know who you're talking about.

So he was fast like Hayes and played like Mays.

The Celtics won.

Yeah, the Celtics won. That was, uh, that was kind of crazy.

What the Celtics, man?

People kind of dissed on— really like started examining the, the Dallas Mavericks and saying Luka wasn't in good shape.

And then it's a long season, dude. That's a lot of games to play.

Um, and then they were showing the draft, right? And who— what team was it? The 70— that both Jayson Tatum and Jaylen Brown were picked like third in the draft. So two teams passed up on the Lakers, passed Jayson Tatum. Yeah.

I just seen that.

Yeah, two teams passed up.

Yesterday or today.

Was it the Lakers and the 76ers?

Magic Johnson said something about the Celtics or something. And one of the fans was like, you drafted Lorenzo Ball instead of Jayson Tatum.

Right.

What is wrong with you?

Yeah, that was messed up. That was like two huge draft mistakes by teams. Oh, look who got picked ahead of—

I mean, we traded Jrue Holiday to Portland for Dame, but didn't know.

But did it like— who got—

and then Jrue got traded to the Celtics. Didn't somebody get a second?

Didn't somebody get picked ahead of Michael Jordan in the draft like Sam Bowie or something? I don't know.

Whatever.

I don't think he was the number one pick in the draft.

I was a little kid.

Okay, but I'm just saying it's just crazy.

What year did Jordan get drafted? '83?

Yeah, in the '80s.

I was 3 years old in 1983.

In the '80s.

Yeah, yeah, man. I don't know.

So what's your first, uh, tech news story?

Um, the first thing that caught my eye this morning when I was, uh, trying to find some something that, you know, talk about rather. Uh, NVIDIA is the world's most valuable company. Um, the company shares are up more than 170% this year, um, due to the surge from chip demand in the boom of the AI industry.

Yeah, they can't even make chips fast enough.

No, um, that's just crazy. They're like, they went from— they're like one of the fastest companies to go from $2 trillion to $3 trillion since night, like ever, since like they started recording like the data.

Yeah, look at their—

look at their— they're like, it's a crazy skyrocket.

Yeah, they went from like in 2020, and it was like in 2020 their stock price was—

I remember when their stuff started coming out and No lie, the shit just got better.

Was like $6.

Like, everything got better. No, I'm saying, how much is their stock now?

$137 a share.

And when did the— when did this big spike start?

In 2020? 2023. Actually, this year it went crazy.

2024. Yeah, they're nuts. Like, the 170% this year. So it's only the— it's just started the second quarter.

Yeah, it's crazy, but they don't know if it's, you know, gonna— if it's sustainable, like, because, you know, they are building other—

I mean, there's competition, right?

There's competition coming into the market.

Absolutely.

So it's hard to say. I mean, they got a big— they did a lot of sales.

Do they really give a shit at this point? That's a hell of a run.

They don't care.

Nobody, you know, I mean, $2 to $3 trillion, that's a— that's a lot of money.

Yes.

You know what I'm saying? And that's not— and they did it very quickly. And so that, like, that was the— I was just—

they're making it, you know, they're increasing like the size of the chips, right?

Where's that company from?

Um, I'm not sure where are they from.

It's not an American company, right?

No, it is a NVIDIA Corporation. Is overview semiconductors. More about NVIDIA.

It's a Japanese—

California. It's from California.

It's based out of the United States.

Yeah, that's based in California. I mean, there's a whole slew of people on there. Yeah, I mean, they have 29,600 employees.

That's a big company. Yeah, yeah.

I mean, they really—

but she makes some good money there, you know.

They really took off when people started doing all the People, they were doing like no business. And then when people started making all those Bitcoin mines—

what do you mean they were doing no business?

They were doing like, their stock was very low, $6. And then when the— they, they started getting a lot of attention when people started building all these Bitcoin mines because they were the maker of all these gaming CPU things, the PCs. Yeah, right, for the gaming PCs, right? And the video cards for that. And that's what was being used for the Bitcoin mines, and that's when their company took off like crazy. They couldn't even make this stuff fast enough, the— that piece. Yeah, they couldn't even make it fast enough, and they were stopping people from buying them. Like, you couldn't buy more than the video cards.

Yeah, yeah, their cards, you couldn't buy more than a couple years ago though, bro.

Right, no, but I'm saying, but then the AI thing, the AI, the AI is really—

but yeah, the other— I mean AI is all in the news, you know, like, but the other thing that I seen this morning was, uh, Porsche has just invested $11 billion in an AI firm called Wabi, and it's an AI-based solution for self-driving trucks. So obviously they're trying to get into the self-driving game like Tesla.

Yeah, well, they think the the, the government like wanted Tesla to turn off the self-driving.

That's what I thought. That's what I thought too.

But they— people still turn it on in the car somehow. It's outlawed in some places.

No, that's just—

I don't know, because there's been some car accidents and stuff. Yeah, AI is everywhere.

Everywhere. Sure, for sure.

You look, there's something going on with AI. There's like robots with AI. Yeah, like, just like, I mean, I saw these things when I was looking at a news story about these robots for people. Like, oh, you can't have a dog, so you can get like a robotic dog.

I've seen them, they're kind of cool.

And then there's like a thing that just rolls around and it's to keep like older people company.

Yeah, or people who are sitting at, you know, I forget the name of that company. I've seen that a while.

Yeah, it was a big thing at the CES show this year. Yeah, this thing that rolls around and does all of that. But the AI thing is crazy because, you know, I was talking on LinkedIn, I was following a thread and they were talking about how a lot of companies now are, you know, hiring like these AI companies to come in and automate all kinds of things like telemarketing, making a, you know, someone fills out a form on a website instead of a human picking the phone up, an AI, is calling that person up. Or inbound phone call, you know, we're all used to like the automated message, right? But instead now it's a whole smart AI.

Yeah.

Or like another company has like a help desk, and when you call the help desk, you, you don't even need to call them. You can just go on the website, type in your question, and instead of scrolling through like whatever, 10,000-page user manual It filters it out for you. Yeah, filters it out for you and gives you the answers. So I mean, those things are taking away people's jobs.

Unfortunately, but you know, nature of the beast.

And I think that you mentioned like Google has an AI certification.

Oh yeah.

And class, and I don't care what kind of job you're in today, unless you own the company, right?

You know, I mean, even then you should be familiarized, right?

You got to be, you got to be learning AI, what it can be done, what can be done with it.

Yeah, you get— I would say if you're the owner of the company, you need to be really on top of it because you'll be paying people for no reason at one point, you know what I'm saying?

Possibly.

Yeah, no, possibly my ass. Like, if you don't know what you're doing and like, anything—

No, but it's like we talked about. You could go online and go, okay, make me a website for this. And the thing spits it out, but it's not done.

I just showed you that SEO software that literally, like, it's sad to say, but that's a team killer.

Right.

Like, literally, that, you would never have to hire—

Did you try it out?

No, not yet.

Okay.

I'm just saying, like, the amount of work, the workhorse that that software is, right? Like, that's like 3 or 4 people.

Okay, but that could do wonders for a small company.

5 people, really?

No, but that could do wonders. You have a small company, you don't have a huge budget.

That's what I was saying. Like, for, you know, for us, it's even— that's why it's like, it's too much for even us, right? Like, because it's the beginner, the like the, the, the starter package or whatever, right? We're, we're not like, uh, we don't have 30 domains, right? You know what I'm saying? What we do, but we're not— it's whatever the— you know, you get what I'm saying. Yeah, it's just too big for what we could use it for, but I'm still gonna reach out and see if they have like some sort of, you know, package for small business.

It actually wasn't that—

it's not expensive at all, but The, the one that I would want would be the middle one, right? So it's a little— that gets it a little bit more expensive, but it's still worth it from a couple hundred bucks a month as a, like, a troubleshooting and, and, you know, just, just like a— it's like literally an assistant at that point. Yeah, like it's the, you know, yeah, no, that's, that's pretty cool.

No, I saw this thing that a guy—

sorry, I won't mention it because I don't know if it's good or not yet, but when I know it's good —there's a lot of companies coming out with all kinds of AI software and making all kinds of promises.

If you're doing this, like, this company had a 2-week free trial, right? No, 7 days. Oh, a 7-day trial. You got to have a trial on your software because people will charge it back if it's garbage, if it doesn't do what it says it does. It's a lot of garbage out there. No, and the FTC— I showed you that. You know, we talked about that the other day as a notice out about the, you know, they're watching these AI companies and the promises they're making and the advertising that they're doing. So you gotta be, you know, really careful.

Yeah, that's the cool thing about this thing. It's like not promising you anything. It's just doing a lot of work. You know what I mean?

Well, that's even better than, you know, a lot of stuff is making all sorts of promises and things like that. Right, right, right, right.

Yeah, I mean, I mean, is the AI, the artificial intelligence— do you see that the, uh, the co-founder of— another co-founder of OpenAI, um, he's starting a, a new AI company, um, called Safe Superintelligence. And I, I, I'm under the assumption he was the chief scientist for OpenAI, and I guess I'm assuming he's no longer a part of that company. I guess, I, you know. His name is, I'm sorry, I'm gonna butcher this, Ilya Sutskever. Mr. Sutskever. Yeah, he, so his thing is that he wants a safe, artificial intelligence.

Yeah, that's the whole thing. Like, is what— that's the whole argument right now from Elon Musk, right? I mean, it's a valid—

it's very valid, you know what I mean? I, I get it. Like, we were talking about the other day, like, you know, but what, what are you gonna do about it, you know what I mean? Like, we could keep questioning. We're gonna go back to the rotary phone.

I mean, that's the flip phone.

I'm not opposed to that, you know. I'm all for starting The big reset, you know what I'm saying?

No, I'm just saying, like, you know, it's dangerous. We've talked about this before. Is it gonna turn into the Terminator? I mean, can you imagine, like, I was looking online, I got a new thing, oh, trade, Microsoft, very aggressive. Trade in your laptop, right? Mm-hmm. Get a bunch of money, no, I don't remember, you had to put in your serial number to get the offer and all that. I didn't go through it, 'cause I didn't want them calling me on the phone. And then their newest models of the computers are all coming with a button on it with Copilot, which is this whole AI thing. I'm just worried, like, you have that thing turned on and you're working on a document, and what if it messes up, like, the whole document or changes some code or something on your Excel spreadsheet? Or I don't know what it could do. I'm just saying, like, a lot could go wrong.

I don't, I don't know what the capability— that's what I'm saying.

We don't know what the capabilities are.

Like I, like I said the other day, man, the guy who was— he was a part of SEAL Team Six. He literally said that, you know, you can shut your phone off and think that we can't listen, right? But I can, I can hear you loud and clear.

Well, it's like that other guy did a quote from a Harvard Business Perspective perspective, professor, and he said, you know, AI is not going to replace humans, but it's going to replace humans without AI. So if you're— you need to learn AI if you want to be in this, in the job. Oh yeah, absolutely, man. I want to be in the job market. I mean, the other thing I see with this, there's a lot of opportunity in it.

I feel like— I think that, I think that, uh, It's a, it's, it's a game changer, right? Like, I think that creatives are going to really be able to flourish, you know what I mean? I— the AI— this is just going back to like AI taking away of our jobs. It's just, you know, you need that, that personal touch. Like, I said, you know what I'm saying? Like, right, I couldn't use any of the shit that I got off of DALL-E, right? You know what I'm saying? Like, the guy had 6 fingers.

Oh yeah, that's it. You know those images?

So like, you needed— you need a human, a graphic, someone that's capable of doing these, you know, right?

But the original— but I'm saying like, it's doing like a bunch of the work, and then you got to still go clean it up, kind of. So sometimes it'd be like having an apprentice I don't know, I guess it's kind of, or a helper, it's an assistant.

Yeah, it's, it's, it, you know, it's, it's, it's gonna make everyone's jobs easier, you know, like, and unfortunately teams are going to get smaller.

Yes, but for sure, for every kind of like data, cybersecurity, data mining, SEO, writing. I mean, all kinds of different— but the weird thing, this is the weirdest thing I saw on scale though, right?

Like, I mean, if you have a— if you're a medium-sized company and you got a team of 50— well, let's just say your, your marketing, your IT department, whatever you call it, is— there's 5 guys in there, right? You know, you're not going to be able to get rid of those guys, probably, right? Okay, you know what I'm saying?

Okay, what if they each those 5 guys have like 3 lower-level helpers. Maybe you don't need that many people.

Maybe you don't, maybe every guy gets 1 helper. You know what I'm saying? Instead of 15 people, now there's 10 people. You know what I mean? But yeah, I mean, I'm not afraid, you know, I'm embracing it.

No, I'm not afraid of it. I think that some companies might take it too far and then people won't have that personal touch, the human touch.—

and they're gonna suffer from it.

And then they could end up suffering from that. Absolutely, they will. You know, like the other day, the weird— the crate— like, I don't know if I could, like, do this or not. So they show this guy, like, he's putting together, like, IKEA furniture. And they show another guy fixing a plumbing problem. And then they show a third guy fixing a car. And they all have on, like, those Apple goggles. And then somehow— they're looking at what's broken and whatever's in those goggles, the AI in there starts telling them how to fix it or how to put it together. And I was like, man, that is crazy.

Yeah, it's cool. I was not— I don't know, it was a while ago, but there was— they were showing about how those— it's just changing the game for medicine. People are going to be able to, uh, the way that they're able to look and, um, just like assess problems.

Um, that's kind of crazy.

Yeah, like the video I remember seeing, well, when I was watching it, they were— the guy was literally spinning like your heart around to— but it was a— the view of your actual heart, right? You know what I mean? Like, you can get the old—

yeah, that's what I'm saying.

Like, these— that's just— that's, that's fucking mind-blowing. Sorry. Yeah, I was like, holy shit, this shit is really starting to happen, right? You know what I'm saying? Like, they're— the stuff that you see in the, the movies, right, growing up is really starting to happen in front of my eyes, you know what I mean? Like, so yeah, man, that's awesome. The augmented reality is going to be cool. I still am the guy that's going to tell you to go outside and interact with reality. Yeah, like take your shoes off, get your feet dirty, walk in the mud, get— stick your hands— go home.

You got to go out and meet people. That's—

but go hug a tree, man. But one thing is, 6 seconds, hug a tree for 6 seconds with your shoes off. One thing, you'll reconnect with the universe, B. One thing I see, you need to do that since I go out every day. No, I'm telling you, take your shoes off. Yeah, take your socks off. Hug a tree for 6 seconds. Okay. At least.

All right, 6 seconds.

And you'll feel like a new man. No, I'm just saying, like, I think people— Tree hugger.

I think people have become a little, I don't know. I wrote an article and that was about—

Too fucking sensitive, sorry.

No, some people, well, some people have become too sensitive. But I'm just saying, like, some— I think a lot of people have become like, you know, like in communication, you know, ghosting. People talk about that for dating, but that just happens in regular life, you know, people ghosting people. I think, you know, manners have gone down the, down the tubes a little bit. I don't know about that. Yeah, I think people are like a little disconnected from things sometimes, and too much technology is too much technology. I don't know, my—

I think my There's kind of the, you gotta, to get respect, you kinda gotta earn respect.

I know, but I'm saying, I'm just saying technology makes it easier for you not— To hide?

Yeah, to hide. And have Twitter fingers?

Right, Twitter fingers, or send an email rather than pick up the phone, or you get an email or a text and you don't answer it.

I don't know, man. Go outside. Go outside. Go enjoy life, yes. And then the last thing that I had was on the AI train again here. PayPal hired a Walmart exec as their technology officer. His name is another, I'm gonna butcher this again, Srini Venkatesan, to head the company's push into artificial intelligence. You know, PayPal's been trying to figure out how to, you know, take its, you know, land in the AI space, I guess. Well, I mean, I would imagine artificial intelligence is going to probably be going hand in hand away to stop a lot of fraud. I don't know about that. Hopefully that's what, you know, I mean, that's the, the idea. Yeah, that's the idea of it.

I think that, I think Visa, MasterCard need to figure out From a fraud standpoint, you know, they're not doing— they're— I just don't think that they do enough to protect businesses. And, and I don't think they do enough to protect card-present businesses or the internet. And I don't know what they can do other than 2FA. They, they just got to get on the— they just got to get on the train with, you know, somehow authenticating payments better. Because there's just chargebacks. Like you're talking about NVIDIA, NVIDIA, this 170 growth, chargebacks are out of control right now. It's the highest that it's ever been. Really? Yeah. The amount of chargebacks, dollar and number. No kidding. It's completely out of control. So it's gone way, way up and it's definitely a problem. That needs to be solved. Word up. You know, and a lot of it's friendly fraud. Yeah. That's the worst part, where the person knows they went to the business, knows they bought it, but it's doing a chargeback and things like, you know, the return dispute situation where all of a sudden they know like, oh, small transactions, they'll just get their money back. I think it's gotta be, something's got to be rethought on all of that because, you know, it's— I don't— the way the chargebacks rates are now, they want to lower the percentage to the merchants from 0.5% to 0.3%. And I think that, you know, they have to do—

you know, you want to lower it. What does the AI say?

What does the AI say? I don't know. I haven't seen any kind of like a— there are plenty of fraud filters and things that are using AI to filter out fraud. But I think that every time they make— they do something, the fraudsters think of something else. So I think that that's part of the problem with some of this. Hustlers gonna hustle, man. Yeah, the hustlers are gonna hustle.

They're gonna figure it out. So that's the— that's the, like, the, the, the whole thing with AI, you know, that I I think people are super scared about is like just the dark side of the universe type vibe.

Like we've talked about a few times, could it turn into the Skynet, Terminator? That could happen.

I doubt it. Maybe, I don't know.

We don't know. It's the AI. AI is like, that's what everybody, anytime you look up, oh, what's trending? AI, everything's trending with AI. And also all these people leaving these companies. That's all because of the— that new, you know, non-compete thing is off the table now, right? So now people can leave one company, go start another company, and then we're going to see—

it's good for business somewhat.

Yeah, as long as you don't steal the secrets. But I'm just saying, that's gonna see— that's gonna— that we're gonna see a lot of this, a lot of these companies, a lot of people moving around now. For sure, for sure. Because that's a brand new law, so we're going to see a lot of movement.

Well, let us know let us know, man, what you guys think of, uh, AI, how you guys are using it in your business. We'd love to know, love to chat about it. And if you have an AI company or startup and you're looking to get some traction, or, you know, would like to be on the pod, let us know. Smash that subscribe button like Hulk. For the one time. Peace out.

Carpe diem. Guess Justin's hat, win some swag.

Let's see. New meeting. Sorry, we went over. That's okay.