DeepSummary
The podcast episode discusses the implications of Google's decision not to include a 'most scenic route' feature in Google Maps due to concerns about potentially diverting foot traffic away from low-income neighborhoods. This sparks a broader conversation about the responsibility of tech companies to consider the societal impacts of their products beyond just user convenience.
The hosts then delve into the fintech company Bilt's relationship with Wells Fargo, in which Wells Fargo is reportedly losing around $120 million per year due to Bilt's rent payment rewards program not generating sufficient revenue from users carrying balances. The discussion touches on unit economics and the challenges of growth-at-all-costs startup models.
The latter part of the episode examines the rapid progress in AI development happening in China and Japan, with new AI models and companies emerging, as well as the potential decoupling of AI development from American tech giants as other nations pursue their own AI capabilities for economic and national security reasons.
Key Episodes Takeaways
- Google considered potential negative societal impacts when deciding not to include a 'most scenic route' feature in Google Maps, sparking a discussion around the responsibility of tech companies.
- The fintech startup Bilt's partnership with Wells Fargo highlights challenges around unsustainable unit economics and growth-at-all-costs models.
- China and Japan are making rapid progress in developing their own AI capabilities, potentially decoupling from reliance on American tech giants for strategic reasons.
- The accelerating global AI race raises questions around the need for regulation and the implications of artificial general intelligence (AGI).
- Technologies like mapping and AI models will increasingly need to balance user conveniences with broader societal considerations.
- Entry-level jobs often serve as important career ladders, so automation of these roles may have unforeseen societal impacts.
- Startups should monitor their unit economics closely and ensure sustainable business models early on to avoid issues down the line.
- Considering the environmental impacts of technologies like self-driving cars and advanced AI is also an important factor moving forward.
Top Episodes Quotes
- “There is actually impact to how you route and Google Maps is going to have an impact.“ by Jason Calacanis
- “Unit economics at some point become the truth, and the truth shall make you free.“ by Jason Calacanis
- “I do think that a system inside of Google Maps that is purely safety oriented for pedestrians, especially at night, would make a lot of sense. An anti crime heat map.“ by Alex Wilhelm
- “Anyways, Bilt, shout out for me, hope that the next model works out better than the first one because this one's not.“ by Alex Wilhelm
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Episode Information
This Week in Startups
Jason Calacanis
6/17/24
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Todays show:
Alex Wilhelm joins Jason to discuss woke Google Maps (1:57), Bilt & Wells Fargo dynamics (16:20), AI progress in China and Japan (32:00), and more!
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Timestamps:
(0:00) Jason and Alex kick off the show
(1:57) Woke Google Maps
(9:44) Squarespace - Use offer code TWIST to save 10% off your first purchase of a website or domain at http://www.Squarespace.com/TWIST
(16:20) Bilt and Wells Fargo fintech dynamics
(17:00) CNBC interview with Bilt founder Ankur Jain
(25:50) LinkedIn Ads - Get a $100 LinkedIn ad credit at http://www.linkedin.com/thisweekinstartups
(32:00) AI progress in China and Japan
(39:41 ) Mercury - Join 200K startups who use Mercury to operate at their best at http://www.mercury.com
(45:09) Defining AGI and its implications
(49:06) McDonald's AI ordering systems and their challenges
(1:04:37) Audience question on EU's AI Act and its impact on startups
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Mentioned on the show:
https://www.ft.com/content/357f3c68-b866-4c2e-b678-0d075051a260
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Follow Alex:
LinkedIn: https://www.linkedin.com/in/alexwilhelm/
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LinkedIn: https://www.linkedin.com/in/jasoncalacanis
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Thank you to our partners:
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(25:50) LinkedIn Ads - Get a $100 LinkedIn ad credit at http://www.linkedin.com/thisweekinstartups
(39:41 ) Mercury - Join 200K startups who use Mercury to operate at their best at http://www.mercury.com
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Great 2023 interviews: Steve Huffman, Brian Chesky, Aaron Levie, Sophia Amoruso, Reid Hoffman, Frank Slootman, Billy McFarland
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