22 korrents from this recording
Every claim below is a statement made in this recording, quoted word for word and linked to the second it was said, so you can hear it rather than take our word for it. The wording comes from the transcript published alongside the recording; the sentence above each quote is our reading of the claim, not their wording.
0:07:17 · watch on youtube.com↗ · Bret Taylor
Their wordsSo when you make something like chat GPT, you can go from to zero to 100 million users faster than any technology in history because of the other technologies though. like you couldn't have gotten there if not for the build out of the internet, if not for the smartphone.
0:10:14 · watch on youtube.com↗ · Bret Taylor
Their wordsIf you look at the S&P 500 now and you look at the amount of value from companies created in that, one could argue that actually almost all of the exuberance and hype was totally warranted and it in fact did change commerce in fundamental ways.
0:15:41 · watch on youtube.com↗ · Clay Bavor
Their wordsBrett and I like betting and one of the bets we have is the year in which greater than 50% of conversations with agents built on Sierra are with people's personal agents. So agents talking to agents.
0:16:11 · watch on youtube.com↗ · Clay Bavor
Our reading
AI agents can already resolve more than eighty per cent of a company's incoming customer issues.
Their wordsOne of the first was we had a bet as to what percent of kind of all incoming customer issues one of our agents could resolve. And Brett was maybe the pessimist and realist favorably charitably. And I bet we'd exceed 80% by the end of the year and we did.
0:21:43 · watch on youtube.com↗ · Bret Taylor
Their wordsif you tell what what jobs are most likely to be automated with the current generation of technology, you would probably put software engineering right at the top. The people building this technology or building the technology that is disrupting their own profession.
0:22:40 · watch on youtube.com↗ · Bret Taylor
Their wordsI just think about like really simple things like access to mental health care, access to education, access to medical advice, access to legal advice. We're essentially taking expertise and making it a commodity. And I think that will is generally democratizing.
0:24:04 · watch on youtube.com↗ · Bret Taylor
Their wordsI don't think all parts of the economy can absorb intelligence equally. So let's just say we develop fairly generalized super intelligence. I always use the analogy like you can invent a lot of drugs, but if clinical trials still take a long time, you're not necessarily going to get new therapies rapidly.
0:26:16 · watch on youtube.com↗ · Clay Bavor
Their wordsAnd it came back and half of them were great, a quarter of them were total garbage and a quarter needed some work. But like it was, you know, in a way him working the entire weekend with, you know, guidance from him.
0:27:04 · watch on youtube.com↗ · Bret Taylor
Their wordsif it produces incorrect code our philosophy is don't fix the code fix the context that cursor had that produced the bad code
0:30:44 · watch on youtube.com↗ · Bret Taylor
Their wordsI mean I've heard from multiple investors that foundation models are the fastest deteriorating asset of all time. And so if step one of your business is to burn through tens of millions or hundreds of millions of dollars of capital before you find product market fit and that asset has value for like a a week, I'm not sure it's like a great business model.
0:32:52 · watch on youtube.com↗ · Bret Taylor
Their wordsAnd actually the reason I think it's exciting is if you look at like the database space right now there's not one database. If you want to do largecale data analytics you'll choose one thing. If you want to do a transactional data store you'll do another. I think we're moving to that area of models
0:34:15 · watch on youtube.com↗ · Bret Taylor
Their wordsit has to be consolidated because to basically make the money back on the pre-training and post-training process you need relatively few players that are collecting taxes you know from all the players on top or you just can't make the the math work.
0:37:39 · watch on youtube.com↗ · Bret Taylor
Their wordsI think it's important to zoom out. The halflife of technology companies is not that long. There are a few, but they're the exception.
0:40:05 · watch on youtube.com↗ · Clay Bavor
Their wordsAnd in contrast to software as a service or software you'd buy off a shelf at, you know, Fry Electronics, you know, decades ago, which might help you be marginally more productive, help you get a job done. Agents, in contrast, are actually getting the job done for you. And so you're in essence hiring software to accomplish a task and get it done well.
0:40:32 · watch on youtube.com↗ · Clay Bavor
Their wordsSeat based. Well, what is a seat? That doesn't make any sense. Consumption where it's like is it per message? Is it per token? Is it per conversation? And none of these things actually mapped very well to getting a job done and getting a job done well.
0:41:16 · watch on youtube.com↗ · Clay Bavor
Their wordsAnd the reason this is important is what we're trying to do in a way is resolve this age-old tension between the cost and quality of customer experience where I think every great business wants to deliver an amazing experience to their customers. But unless you're like Hermes or the Four Seasons, it's too expensive to do.
0:53:46 · watch on youtube.com↗ · Bret Taylor
Their wordsWhen new technologies come out, this pendulum swings from best of platform towards best of breed. And the reason for that is incumbents typically aren't that great at these new technologies.
0:57:25 · watch on youtube.com↗ · Clay Bavor
Their wordsThis kind of zone of the barely doable, it's super important that to the largest extent possible, you be able to kind of control your own technology destiny.
0:57:46 · watch on youtube.com↗ · Clay Bavor
Their wordsmany of the breakthroughs that we've had that have enabled us to to deliver such quality and cost savings and more have come through novel agent architectures and and really going down a click or two in in the stack to innovate at at lower levels of the technology stack.
0:58:29 · watch on youtube.com↗ · Clay Bavor
Their wordsso it's not a simple matter of programming it's not you know typing into a keyboard until or or I guess asking cursor to do something until a piece of software emerges, it's exploration, it's discovery, it's posing hypotheses and validating or invalidating those again and again and again.
0:59:14 · watch on youtube.com↗ · Clay Bavor
Their wordsWe can have a breakthrough in our agent architecture on Monday implemented on Tuesday and have it deployed with hundreds of our customers on Wednesday and directly see the impact of of that work.
1:00:11 · watch on youtube.com↗ · Bret Taylor
Our reading
A software engineer who is not using a tool like Cursor is working at half productivity or worse.
Their wordsit's like if you're a software engineer and you're not using something like cursor to do your job, you're probably being half as productive or even worse than you could be.