FYI - For Your Innovation show

FYI - For Your Innovation

Summary: The FYI - For Your Innovation Podcast offers an intellectual discussion on recent developments across disruptive innovation—driven by research, news, controversies, companies, and technological breakthroughs. Hosted by ARK Invest analyst James Wang, ARK and guests provide a unique perspective on how to best understand disruptive innovation.

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  • Copyright: © 2019 ARK Investment Management LLC


 Introduction to ARK’s Big Ideas 2020 | File Type: audio/mpeg | Duration: 00:22:28

Join James Wang as he interviews Cathie Wood (CEO and CIO at ARK Invest) on our recently published Big Ideas 2020 report. On this podcast Cathie will share her perspective on some of the biggest breakthroughs ARK believes should not be missed in the coming year. What is ARK’s Big Ideas Report? This annual research report highlights the latest developments in innovation and offers some of our most provocative research conclusions for the coming year. ARK seeks to gain a deeper understanding of the convergence, market potential, and long-term impact of disruptive innovation by researching a global universe that spans sectors, industries, and markets. Today, we seem to be witnessing an acceleration in new technological breakthroughs. To enlighten investors on the impact of these breakthroughs and the opportunities they will create, we began publishing Big Ideas in 2017. This year’s version focuses on: Deep Learning — From Vision to Language Streaming Media — The Primary Technology Behind Content Distribution Electric Vehicles — Faster Adoption Than Most Think Automation — Increased Productivity and More Jobs 3D Printing — An Underestimated Technology Autonomous Ridehailing — The Future of Transportation Aerial Drones — A Cost Saver and Potential Life Saver Next Generation DNA Sequencing — The Transformation of Oncology Biotech R&D Efficiency — The Convergence of Technologies in Healthcare Digital Wallets — The Transformation of Banking Bitcoin — An Evolution of Monetary Systems   Tweetables: “The big surprise to me was that the biggest opportunity out there, in terms of drones, is food delivery.”— @CathieDWood “The convergence of DNA sequencing, AI, and Gene editing will reduce the price of Biotech R&D considerably, bringing margins potentially back to highs like we have seen in the 80s.”— @CathieDWood

 Best of 2019: FYI Podcast with Elon Musk, George Church, and more | File Type: audio/mpeg | Duration: 00:40:20

As we wrap up 2019, we would like to thank everyone who listened to the FYI — For Your Innovation podcast. We received incredibly positive feedback for our podcast show and had some truly amazing guests in the past year, ranging from world class geneticists to founders and CEOs. In this final episode of 2019, we put together a “greatest hits compilation” of our five most popular episodes.   1. On the Road to Full Autonomy with Elon Musk (EP11) Elon Musk talks about how his engineering background drives his decision making for Tesla and why he is so confident that Tesla will achieve full autonomy. On this podcast: Elon Musk, Tasha Keeney, Cathie Wood. (Listen to the Full Episode)   2. Immunotherapy and the Race to Cure Cancer with Charles Graeber (EP21) For decades cancer was something that was treated rather than cured. Author of the book The Breakthrough: Immunotherapy and the Race to Cure Cancer, Charles Graeber unpacks the history of immunotherapy, why it remained on the fringes for so long, and why cancer might become a manageable disease. On this podcast: Charles Graeber and James Wang (Listen to the Full Episode)   3. The Genomic Revolution with Prof. Dr. George Church (EP26) Professor George Church is one of the pioneers of modern genetics. We dive into the stage of genomics, next generation oncology, the security and regulation of genetic information, gene editing, and the increasing speed of the genomic revolution. On this podcast: George Church, Manisha Samy, Simon Barnett, and James Wang. (Listen to the Full Episode)   4. Wright’s Law—Understanding Technology Cost Curves with Brett Winton (EP07) Brett Winton explains how Wright’s Law makes simple and robust predictions about technology cost declines, and why it’s at the center of ARK’s research. On this podcast: Brett Winton and James Wang (Listen to the Full Episode)   5. Cerebras’ Wafer Scale Engine AI Chip with CEO Andrew Feldman (EP37) Andrew Feldman, co-founder and CEO of Cerebras, joins us to discuss the Wafer Scale Engine, or WSE, an AI chip that is 50 times larger than the largest chips produced by Nvidia and Intel. On this podcast: Andrew Feldman and James Wang (Listen to the Full Episode)   We will be back in 2020 with new episodes and more exciting topics, because investing in innovation starts with understanding it. Until then, stay innovative!  

 The Beginning of Every Deep Learning Exercise With Manu Sharma and Brian Rieger | File Type: audio/mpeg | Duration: 00:53:25

In today’s episode, we welcome Manu Sharma and Brian Rieger from Labelbox, a private company which we believe is leading training data solution for machine learning. We have had many conversations on this show about artificial intelligence from a hardware and algorithm perspective, but data is just as important. All production AI systems are based on supervised learning, which requires large quantities of data to be labeled so that the algorithms can understand and compartmentalize it. In other words, data without labels can’t be used by most AI algorithms. While large internet companies like Google and Facebook have built custom tools in-house to help label and sort through their large troves of data, most enterprises have very few options. Labelbox aims to fill this gap by providing a scalable and easy-to-use tool to help companies convert their raw data into labeled data fit for machine learning algorithms. Today on the show, Manu and Brian get into the history of Labelbox, as well as the services it provides to its clients and the machine learning community. We talk about the tiers and iterations of Databox, its pricing structures, the various industries it supports, and what makes it stand out against its competition. We also cover some fascinating ground around human-in-the-loop systems, how a machine learning startup would train its AI and the difference between software 1.0 and 2.0. In our conversation, we also speak about Labelbox in relation to computer vision, drone technology, and labor ethics. Join us to get a taste of the many ways data and AI will continue to penetrate life and industry well into the foreseeable future.   Key Points From This Episode: How Manu and Brian became friends through building an optimization system for airfoils. Manu’s experience working with data insights where he realized the need for data labeling. The connection between the rise of different machine learning algorithms and data labeling. Three labeling problems Labelbox solves in areas of tools, distribution, and management. Labelbox’s two formats: on-premises and cloud-based. Pricing structures for Labelbox which are tiered and correspond to the decisions it makes. Different industries that utilize computer vision which benefit from Labelbox. How Labelbox helped KeepTruckin build a dashcam data capturing system. Human-in-the-loop workflows How Labelbox believes it can take accuracy from 90% to 100%. Key differentiators of Labelbox regarding software, human support, and data management. The story of Expensify and how an AI-powered app trains its AI using humans and data. Data processing as the key differentiator between software 1.0 and 2.0. Whether the rise of transfer learning is detrimental to Labelbox as a business. The relevance of Labelbox and machine learning to modern drone technology and uses. Ethical considerations around human data labeling work conditions. The plus side of human data labeling: skills development and accessibility. Some of the third world English speaking regions where human data labeling is burgeoning. Situations where human data labeling falls under a mixture of experts and outsourced labor.   Tweetables: “We’re seeing a massive adoption of deep learning technology across every industry where cameras or the human eye are involved in making decisions.” — @Riegerb “Labelbox is the only software platform that a customer would ever need in order to build, create, and manage the training of datasets for operating a machine learning pipeline.” @manuaero “What’s really fascinating is that in software 2.0, the way the machines learn is through a form of labeled data, and these labels are essentially decisions.” @manuaero

 The Power of Deep Learning with Bryan Catanzaro from NVIDIA | File Type: audio/mpeg | Duration: 00:48:14

We are joined by Bryan Catanzaro, Vice President of Applied Deep Learning Research at NVIDIA. In his early career he built some of the original deep learning libraries and worked at Baidu in the specific field of deep speech. In 2016 he returned to NVIDIA and has been there since, exploring the ever-evolving field of deep learning at one of the industry leaders. We discuss conversational AI and the newest advancements in the field, Bryan’s thoughts on NVIDIA’s competition and what the market looks like currently. Bryan also weighs in on how far we are from a more general form of artificial intelligence and how far we can get by just scaling today’s technologies. We also cover autonomous driving, related software, hardware and frameworks and the impact of cloud computing on the field. For this informative chat be sure to listen in to the For Your Innovation podcast! Key Points From This Episode: An overview of how deep learning has changed over the last two decades. NVIDIA’s realizations around deep learning and the impact it would make. The deep learning team at NVIDIA and how it fits into the company as a whole. Connections to other companies and internal work within the NVIDIA sphere. Exciting projects at the company; conversational AI and graphics rendering! The data bottleneck and the hurdles to teaching machines to properly understand language. Scaling in large transformer networks, training and inference models for learning. Single and multi-node problems; creating solutions for different types of customers. The software and frameworks in the market right now and who is leading the race. The hardware side of machine learning and why Bryan emphasizes universal compatibility. NVIDIA’s autonomous driving efforts and what they are ultimately aiming for. How close are we to some form of general artificial intelligence?   Tweetables:  “NVIDIA is also as you might remember, a very densely connected flat organization. Teams work together across org chart boundaries every day.” — @ctnzr “We are not just training models of the past we are inventing models of the future.” — @ctnzr

 Streaming Wars with Nick Grous | File Type: audio/mpeg | Duration: 00:21:06

Isn’t everyone talking about streaming wars? This may seem like a new phenomenon, but it all started in 2007 when Netflix introduced streaming for the first time. With Disney Plus and Apple TV gaining traction, we are exploring what the future of streaming might look like and how it could shape the media landscape. On this episode Nick Grous, analyst at ARK Invest, shares his broad perspective and insightful knowledge on the current streaming wars taking place across the globe. On day one of their launch in November 2019, Disney Plus received over 10 million subscribers from just a handful of countries. Nick explains how the growing competition, like Disney Plus and Apple TV, impacts Netflix – the market leader in the streaming space. We explore some of the history behind streaming and why it took other companies over 12 years to start competing with Netflix. Lastly, we discuss how companies are expanding their business models and products in order to win a piece of the pie. Take a listen to this episode if you want to know who ARK believes might be best positioned in these streaming wars. Key Points from This Episode: How Netflix revolutionized streaming back in 2007. Who we believe are the main streaming competitors today. Find out how the launch of Disney Plus and Apple TV are faring in comparison to Netflix. Discover why it took the industry 12 years to respond seriously to the domination of Netflix. Why we Nick believes legacy companies today are responding with mergers and acquisitions. Find out what Netflix has done to scale more rapidly and globally than its competitors. Stepping into the ad-supported market versus Subscription Video on Demand (SVOD). Why live sport and live news still makes cable TV an attractive option for consumers. New strategies companies are implementing into their business models beyond streaming. Predictions for the future of the streaming space: Is Disney Plus going to win the war?   Tweetables: “Before, Netflix was the undisputed king. Now, they have true competitors.” — @GrousARK “There is not going to be a single winner in this streaming war. There will be many winners.” — @GrousARK “This is also a way for companies to bring new users into an ecosystem beyond just streaming.” — @GrousARK

 HD Maps for an Autonomous Future with Ro Gupta | File Type: audio/mpeg | Duration: 00:58:53

We are joined by Ro Gupta, the CEO of Carmera to discuss his contribution to an autonomous future. Carmera is a private company that makes real time HD maps for autonomous driving. We talk about his own history and early interest in transportation before diving into the development of digital maps and the apps that have spearheaded this technology. Ro explains data collection, safety policies, and some of the main challenges today. He also describes differences between the US and international markets, notably China. We discuss different solutions, how to share data across platforms, and how Carmera aims to grow in the future. Key Points From This Episode: The early roots of Ro’s interest and affinity for transportation technologies. Mapping technologies over the years and the shift towards HD maps.  Carmera’s stance towards LIDAR and data collection.   Aiming for the best historical and forward-thinking data set for vehicles.   Safety policy, trust, and verification.   Comparing the US markets to those abroad and the implications of global demand.  The biggest challenges currently facing Carmera and the HD maps market.   Issues with data across formats and platforms and minimizing latency.  Unexpected use cases and future ideas for Carmera.  ARK’s own findings on the autonomous future and the market opportunities.    Tweetables: “I think if you’ve ever spent time in developing countries, you don’t take roads for granted, you see just how much of the nervous system they really are for the real world.” — @ro_gupta “Basically, almost all computer vision that you see being commercialized is deep learning, neural network based, or a lot of it is.” — @ro_gupta

 A Different Type of VC Firm with Eric Vishria from Benchmark | File Type: audio/mpeg | Duration: 00:55:01

On this episode of FYI we welcome Eric Vishria, General Partner at Benchmark. Benchmark is a one-of-a-kind venture capital firm based in San Francisco, opting to operate with a small team of just 5 to 7 general partners and no junior partners or other team members. They have helped to bring to market iconic companies such as Twitter, SnapChat, DropBox and Uber! In our conversation, we talk about why he believes SaaS is larger than ever before. Eric makes a strong argument for low barriers to adoption over low barriers to entry. We talk about Benchmark’s recent investments in software and machine learning and get some insight into their work with Cerebras as its first investor! As a venture capital company that does not do a lot of PR, it is all the more exciting to have Eric as our guest to get a peek inside a true industry leader and trendsetter. Key Points From This Episode: How Benchmark got started and the differences to typical venture capital firms. Day to day work at Benchmark; meetings, recruiting and maintenance. The roles at Benchmark and how the agreement processes play out. The rise of enterprise software and the relationship to infrastructure. How the lowering of barriers to adoption has influenced the market. Benchmark’s recent involvement with Confluent and Benchling. The company’s hesitation to get involved in life sciences and breaking this mold. Investments in AI development and the impact of deep learning on cybersecurity. How Benchmark became involved with Cerebras and backed them. Getting out of the PacMan world of deep learning and trying to imagine the future! Market-sizing and why the practices at Benchmark lean away from this. Public investment in SaaS companies and surprising growth in the market. The current Benchmarket portfolio and the excitement of finding special early-stage projects.   Tweetables: “We don’t do seed, we don’t do growth. We don’t try to be an investor just to have a logo.  We either lead, take the board seat and do the work or we don’t.” — @ericvishria “We are looking at a world where there are over a hundred thousand new variants of malware every day.” — @ericvishria

 Asking Different Questions Than Everyone Else, with Sean George | File Type: audio/mpeg | Duration: 00:40:20

On this FYI episode, we are joined by Sean George, CEO and co-founder of Invitae one of the innovative frontrunners in the medical genetic testing space. (This episode was recorded: Sep. 10, 2019) Invitae is driven by the provision of affordable genetic testing, clinical-grade accuracy, and transparent reporting practices. In asking different questions than anyone else in the space, Invitae is spearheading a paradigm shift in the diagnostics industry.1 For them, finding scalable solutions, where anyone can access information about medical risks they face and then tailor solutions accordingly, is an ideal outcome. Sean also talks about the declining costs of DNA sequencing and the implications it has for the future of the medical genetics testing industry along with the host of other industries it will benefit. He also touches on how genetic testing can continue to change cancer treatment to ensure that all patients get comprehensive, tailored treatments that deal with the specificities of their case. While being an innovator in this space has provided altruistic benefits for many people outside of the company, finding investors has at times proved to be challenging for Invitae. Sean then gets into what the current investment landscape for biotech companies looks like as well as his suggestions for raising capital moving forward. For all this and more, join us today!   Key Points From This Episode: How Invitae’s approach is different from others in the medical genetic space. We are still in the midst of the technology revolution and genetic testing cloud be the last frontier. Medical genetics goes far beyond just buying a sequencer. Why many were frustrated with the outcomes of the Human Genome Project. Many industries could benefit from the cost of decreased sequencing. How Invitae goes about solving rare pathogenic variant findings on a case by case basis. Diagnostic technology is complex, but it needs to provide simple, digestible answers. Race and ethnicity could be viewed as cultural constructs rather than biological realities. Some of the biggest changes Sean anticipates happening in the cancer diagnostic space. Some genes can tell whether you are high risk for cancer or not. An explanation of a liquid biopsy and how it is being used currently. ‘Sean’s belief that a company’s inherent purpose is not cash flow but fulfilling its created purpose. The shift in diagnostic testing is moving from a one size fits all to personalized program. What is exciting as Invitae’s mission of driving costs down is being realized.   Tweetables: “We’re doing great good now by delivering information that otherwise people never would have got, but if we could do a genome on every sample instead, we could really start bending the curb on a population level, on the family level, on an individual level.” — @seanegeorge “The reason we started a company is because there is absolutely knowable information in your genes that may or may not confer incredibly high risk for cancer.” — @seanegeorge “You have to suspend reality for long enough, for enough people to try to do something different.” — @seanegeorge Please note that as of 9/30/19, ARK’s clients held approximately 8.1% of Invitae’s shares outstanding. ↩

 The Future of Cultured Meat Production with Yaakov Nahmias | File Type: audio/mpeg | Duration: 00:40:27

Today’s episode is part two of the discussion with Professor Yaakov Nahmias, the Israeli biomedical engineer and innovator. We discuss his startup, Future Meat Technologies, a company funded by Tyson Foods, which is poised to develop the next generation of cultured meat. Initially when someone proposed the idea of cultured meat to him, Yaakov thought it would be too expensive. Drawing inspiration from the human body’s filtration and purification system, Future Meat Technologies is working on a bioreactor which removes the growth inhibiting ammonia from the cell growth process. With this breakthrough development, the company has a plan to drastically drive down the cost of cultured meat production and improve efficiency to the point where it could surpass the output of the conventional meat industry. This may not only feed more people, but also allow consumers to make more conscious decisions. Yaakov recognizes that it is a niche market and in order to widen the customer base it is important to make the product as close to conventional meat as possible.   Key Points From This Episode: An explanation of what cultured meat is Meat is made up of muscle and fat, so to mimic the taste in cultured meat, only fat is needed What fibroblasts are and why Yaakov’s company favors using them over other cells Why this new way of producing meat can be cheaper than using a conventional bioreactor How Future Meat Technologies’ purifying device works Why this way of producing meat is not genetically modified Why this technology’s shorter time frame allows for a higher level of market responsiveness What the most popular items in the meat market currently are What Yaakov envisions the future cultured meat industry to look like   Tweetables: “If you want to make a burger that tastes and smells like meat, you actually don’t need all the meat, you need the fat.” — Yaakov Nahmias “Efficiency here is the name of the game. You don’t have a lot of margins. If this was a high margin industry then there would be more room for a couple of players.” — Yaakov Nahmias

 A Commitment to Bitcoin with Ric Edelman | File Type: audio/mpeg | Duration: 00:32:36

Today on the podcast we are joined by Ric Edelman, the founder and chairman of Edelman Financial Engines and author of The Truth About Your Future. We also have our very own Cathie Wood join us for the conversation as we look at the current state of bitcoin and cryptocurrencies, a decade after they emerged into the public imagination. We hear from Ric about his early theoretical and then practical interactions with bitcoin, his ongoing belief in the platform, its limitations and what its future may look like. Cathie also weighs in on ARK’s initial relationship with bitcoin and how cryptocurrencies informed the formation of the company. We discuss bitcoin’s strengths and weaknesses, who can most benefit from its unique characteristics at present and the advantages that would emerge with the involvement of the SEC. Tune in to hear this engaging discussion on what we believe to be one of the decade’s defining technologies! Key Points From This Episode: How Ric Edelman became involved in cryptocurrencies originally and his continuing philosophy. Cathie’s own ‘aha’ moment and early engagement with bitcoin in 2011. The uncertainty that still surrounds bitcoin’s and other cryptocurrencies’ future. Bitcoin’s transaction handicap and the other cryptocurrencies solving these problems. What this evolving conversation means to the work of financial advisors. Ric’s own approach to advising clients on investing in bitcoin. The reasons why Ric and his firm are not yet fully recommending bitcoin to average clients. Limitations and regulation in the cryptocurrency space and the practical effects of these. The power of educated and informed investors making sensible, individual decisions. Tokenization and what is next for bitcoin and the crypto sphere. Why Ric is really excited about the prospect of a ’40 Act product being released.   Tweetables: “The exposure to Bitcoin back in 2012 was still very new. It had only been invented a couple of years earlier, and there were more questions than answers about what it was.” — @ricedelman  “I made my first investment of bitcoin in early 2014, and I’ve been buying ever since. I’ve never sold any holding that I have in digital assets.” — @ricedelman “Part of the problem is that Americans tend to be slow adapters, partly because we have the strongest currency in the world, because we have the strongest economy in the world, the most stable financial structure in the world.” — @ricedelman

 Steve Forbes on the Market, Policy, and the Evolution of Media | File Type: audio/mpeg | Duration: 00:55:24

On the podcast today, we are joined by Steve Forbes, Chairman and Editor in Chief of Forbes Media Group. Together with ARK CEO and CIO Cathie Wood and ARK analyst James Wang, we have a fascinating chat with Steve on the market, the modern media landscape, and the trustworthiness of cryptocurrencies. The podcast starts off looking at the current economic climate, doom and gloom predictions, and why Steve has come out publicly with a relatively optimistic outlook. From there we naturally move into taxation, the market, and all the political issues connected to these topics. Steve gives us his views on the path of Forbes Media Group through the internet age. We hear about the philosophy that guided the company from its previous iteration as a purely print publication, into the online powerhouse we see today. We even broaden our conversation into a comparison of today’s popular music landscape. Lastly, we focus on cryptocurrencies, the concept of trustworthiness of Bitcoin, and some of Steve’s current and upcoming projects. Be sure not to miss this great episode!   Key Points From This Episode: Reasons that Steve is optimistic about the state of the economy and the stock market What Steve means when he talks about total output comments and consumer actions Negative yields and the real message we should be taking from them Imagining President Trump’s possible policy priorities, if re-elected Evaluating the state of the stock market right now and predictions around its future Under-valuation of the market and the fear around it currently The internet’s impact on the Forbes Media Group and their response Comparing popular music of today with previous generations How Forbes transitioned into a contributor model from the magazine format A preview of the current projects Steve has on his agenda Steve’s thoughts on the trustworthiness of cryptocurrencies.   Tweetables: “When everyone is depressed about something, they’re usually wrong. The only thing that does worry me is the trade situation.” — @SteveForbesCEO [0:01:38] “Bitcoin is what you might call a high-tech cry for help.” — @SteveForbesCEO [0:01:38]

 Tissue Dynamics with Professor Yaakov Nahmias | File Type: audio/mpeg | Duration: 00:33:47

In this episode of the FYI—For Your Innovation podcast, we welcome Professor Yaakov Nahmias from the Hebrew University. Yaakov is an Israeli bioengineer and an award-winning, industry-leading expert in his fields, who has worked in 3D printing and cellular research for the majority of his career. This two-part conversation will cover his work at Tissue Dynamics in the field of drug discovery and the production of cost-effective cultured meat at Future Meat Technologies. In this first part, we explore how Professor Nahmias is helping to advance medical research, drug discovery, and production of new medicines. We hear about his ideas that led to the founding of his company, Tissue Dynamics, and some of the problems that the company aims to fix. Professor Nahmias does a great job of explaining the complex issues of drug discovery. We discuss technological advancements, such as smart organ-on-chip technology, that could allow us to reduce the time it takes to find new drugs. For this and more, tune in!   Key Points From This Episode: How Yaakov’s engineering background and philosophy led him to drug discovery The underlying climate that brought about the birth of Tissue Dynamics Reasons for the steep price increase of bringing a new drug to market How Yaakov has focused on trying to alleviate bottlenecks for drugs coming to market Technological advancements that have allowed progress in the field The smart organ-on-chip platform that Tissue Dynamics has built to track studies in real-time How Tissue Dynamics is interpreting the massive amounts of data it processes What Yaakov sees in the near future of health care and drug development   Tweetables: “It turns out that a lot of the things that we find in mice don’t really translate and there’s many reasons for that. One is that mice have very different genetics to humans.” — Yaakov Nahmias [0:03:48] “A few years more of organ-on-chip research needs to happen before very reliable models can be used to study human immunology. But it’s there and it is definitely right there at the cutting edge.” — Yaakov Nahmias [0:21:21]

 What are Disruptive Innovation Platforms? | File Type: audio/mpeg | Duration: 00:26:58

For today’s show we welcome Brett Winton, ARK’s Director of Research, to discuss his recent white paper titled Disruptive Innovation – Why Now? The main idea of the paper explores innovation today and how the convergence of five major innovation platforms compares to other innovation periods in our history. Brett details the five technologies that we have identified as transformative signposts today. To unpack just how exciting and unprecedented this is, we look at comparable innovation platforms, their criteria, and impact on our economy. We explore the importance of technologies evolving simultaneously and the exponential nature of stacked innovation platforms. Lastly, we discuss how innovation could impact investing and the different growth industries. Key Points From This Episode: The primary idea behind Brett’s paper and what it tries to explain The stack of five technologies that we see coming to bear impact on the world now Background on Brett’s methodology The somewhat surprising inclusion of energy storage on the list Gauging the possible economic impact of these five technologies What this means for investors looking to buy into these markets Why investing in these technologies is not as straightforward as it might appear Thoughts on the possible growth of the number of major, disruptive technologies   Tweetables: “What’s happening today is that there is a stacking of meaningful technologies, the likes of which we haven’t seen.” — @wintonARK [0:02:28] “You have to go back to the early 1900s to find an episode where you had several really meaningful technologies all coinciding to the degree that they have now.” — @wintonARK [0:03:06]

 Cerebras’ Wafer Scale Engine AI Chip with CEO Andrew Feldman | File Type: audio/mpeg | Duration: 01:03:04

Andrew Feldman, co-founder and CEO of Cerebras, joins us this week to discuss the Wafer Scale Engine, or WSE, an AI chip that is 50 times larger than the largest chips produced by Nvidia and Intel. This radical design has raised a lot of eyebrows and it is already being heralded as the biggest breakthrough in semi-conductor technology in decades. Andrew helps us unpack why AI work needs chips this large, how Cerebras was able to leapfrog industry incumbents, and what why the Wafer Scale Engine is the ideal AI training accelerator. Join us on this podcast as we talk with Andrew about some of the biggest hurdles that his team encountered on this market shifting journey. Key Points From This Episode: A high-level description of the chip Cerebras has created and what makes it different. Why this size and level of the chip has eluded companies far larger than Cerebras. The path to the Wafer Scale Engine, starting with the founding of Cerebras. Understanding the system architecture of the Wafer Scale Engine. The relationship between Cerebras and TSMC, their fabrication partner. Choices that were ultimately made around size and particularly memory. Getting past the challenge of bottlenecks and bringing data onto a chip this size. Reasons startups like Cerebras are able to do things more cheaply than larger competitors. Examples of the power that this Wafer Scale Engine offers through its incredible flexibility Cerebras’ go-to-market strategy and Andrew’s thoughts on the size of the training market.   Tweetables: “Our guys are not afraid of invention and I think sometimes that’s not the incentive structure at large companies.” — @CerebrasSystems [0:07:01] “We set out to be extraordinarily ambitious and that was in the system design, that was in the chip design and architecture. That was at every stage of our thinking.” — @CerebrasSystems [0:14:13]

 The Vibrant Online Education Space with Aaron Nace | File Type: audio/mpeg | Duration: 00:30:39

Today we hear from Aaron Nace, the founder of Phlearn, an online education startup focused on digital photography and image editing. Aaron was one of the first YouTube educators to help people get fluent with digital tools like Photoshop and Lightroom and founded his company to help amateurs grow their careers as full-time creatives. We talk about the market of online education why so much of it is focused on paid, more advanced instruction. Aaron explains why he believes in creating free content and the high reward of watching students go from aspiring to full-time professionals. We discuss why there are more important considerations than college qualifications when recruiting new employees and what he reckons is the secret to success in the online education space. He also answers questions about his toughest business decisions and what he envisions for the future of his company. Join us for another great episode! Key Points from This Episode: The reason for starting Phlearn and how the photography industry has changed How YouTube has evolved and the company’s migration from Vimeo to YouTube Free tutorials and transitioning from a free to a partially paid service Their philosophy behind creating free content and how it benefits everyone People becoming brands and how young people’s career path options have expanded The aspects that are more important than a college qualification What it takes to succeed as an online paid education platform The most difficult decision he has had to make and how he managed it The importance of first and foremost having a solid, good quality product Aiming to create a happy work environment where employees can build lifelong careers Tweetables: “We’re basically trying to help anyone out there who has a camera, which is just about everyone these days, make and take better images.” — @aknacer [0:02:31] “In my opinion, operating in a niche and doing that niche very well will most definitely set you apart.” — @aknacer [0:13:05]  


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