Property AI Report
00:13:31 · Matt Goddard
[00:13:31] S1: I think the first thing is don't bet against Google, right? Um, first and foremost, even with half a billion knocked off their share price, which we'll come back to. Um it's like you you sort of uh you make the point about, or you know, you don't really know what you're talking about, but it it it basically became they weren't there, were they? It's a recap. They were glue on pizzas, they were doing some really bad stuff as Bard, relaunched, and then suddenly Gemini 3 was here, and it's everyone, including yourself, is like, oh my god. Yeah, here we go. But then we start exactly. And so coming into this year, you would say it was a three-horse race, then suddenly Google disappeared. And 11 months on, 10 months on, they were still very, very quiet. They were releasing odds and sods within their sort of distribution, weren't they? Like tweaking things and like releasing flash flash models. Yeah, little bits to the imaging and stuff like that, but nothing. But then but then in the same time, you know, the two-horse race suddenly use Wonderful came along, and okay, it wasn't as good. Meta are back in the ring, and uh Grok suddenly with cursors acquisition and what they're doing, that it's like you wouldn't put them up there, but it's is that four foundational models, and then Google's back. Um and I think the point I was chatting to you about off air is you know, with with Argonne, once you get a model that is punching at the front line, you can then get into RSI and not the tennis elbow that we we talked about, but the recursive self-improvement, and and that model starts hammering it. I think the really important point about carbon, uh Gemini 4 carbon is the fact that this is their elite model, this is their mythos class model, and to that extent, okay, they've announced it, but they're not releasing it because of the inherent dangers and having to go through the American vetting system and all that sort of stuff. But by the benchmarks, and just a little bit of a sideline on the benchmarks, they've had so there's a particular company called Artificial Analysis, who was very much the LLM arena originally. They they would be the ones that everyone put their models on and they got benchmarks across a suite of metrics.
00:15:22 · Matt Goddard, Mal McCallion
They've actually rejigged their benchmarks this week to um sort of make sure that they weren't being gained by agentic AI, because this year is all about agentic coding and and everything else. And it's actually meant the the Western labs have have shot in front of maybe the sort of the Chinese models, but that's not to say that they they won't close that gap pretty quickly. I think we were saying that maybe the Chinese labs were only sort of four or five weeks behind recently. [00:15:46] S0: Yeah. [00:15:46] S1: And so I think that's dropped slightly, but I'm sure it'll catch up. But back to back to Gemini 4 carbon, it's there, it's going through those situations, and by all accounts, it's on a par with with mythos and um astracy.
00:16:00 · Mal McCallion
[00:16:00] S0: That's right. It's significant, isn't it? So and and I think you know, it is a welcome addition. It does keep pushing these things forward more and more different, um, and just like natural competition. The more the more that's in the mix, the harder everybody presses. I believe it's only a year ago. It's like two years ago. This year is absolutely flown. So but yes, that we've been waiting for this for ages. There were rumours in the summer that basically um four was not up to scratch, that it was, you know, there were massive problems with it. So now that it is here, as you say, you know, once it gets released, it's going to be great to kind of play around with it. Um I think you're also right, you know, never count Google out. You know, it's that that they are so huge. And one of the reasons, and let's talk about the kind of financials. Um, so upon announcement of all of this and and and the kind of big um investor calls that they did last week, they they managed to lose half a billion, so 500 million off their um their market cap, which is the second largest fall, I think, ever. Um, and I think NVIDIA only beat it once, and I think that was when um DeepSeek first kind of popped out. Um, so so yeah, it is a huge, huge, huge loss because basically analysts are looking at this, the numbers, and starting to sweat. And and I think that's a really, really interesting story because what they came what came out on the call, um, Sundar Pichai, um, the chief exec basically said, look, AI mode on your Google search results, just not getting the clicks anymore. You know, people aren't buying the blue, you know, the blue ads because nobody's looking at that. But we're answering the question up front, so therefore it's not going through. And it's it's it's this kind of like, you know, are we going to be cannibalized ourselves? Are we going to cannibalize ourselves, or are we going to be cannibalized by somebody else, you know, out there who's going to come along and eat our lunch? That's not mixing way too many disgusting metaphors. Anyway, so yeah, it's it's it is that the analyst now starting to to consider and potentially price in what happens if Google isn't able to do this.
00:17:45 · Mal McCallion
Actually, there is this massive kind of you know dip where actually it can't monetize the AI as fast as it is losing um money in the the ads, which has always been its cash machine, always been you know just a relentless um ATM um pushing out pushing out cash. So I think it is um I think it's it's it's a moment, you know. I think it is at where where people are starting to see this the AI is a different business model, and actually, kind of a lot of the old kind of things that people held hold to um over the last 25 years of the internet are starting to kind of creak a little bit. So, yeah, gonna be interesting to see that from the financial side, but then from the technical side and yeah, what can carbon bring us? At the very least, I think it's got to be on a par with the others. It's gonna start keep keep pushing through. You know, I'm sure 4.1 is not far away because whilst they are going through the regulatory stuff, they will be continuing to improve it and so on. But yeah, no, it's gonna be uh gonna be quite exciting to play around with that. And and Matt, they're also bringing out you know more kind of world models and things like that. I know you've been kind of reading up on that genie and the new genie AI model, Genie 4, which you know, again, just looks like an insane piece of kit. And and it might be in these these spheres that it just smashes the other competitors as well.
00:18:52 · Matt Goddard
[00:18:52] S1: Well, that's it. And with Genie, it's been a long time since I you know got into games as much as maybe my two brothers do, but uh genie's uh allowing people to create sort of in in a single prompt these incredible world models that, for example, I think everyone's waiting for the new version of Grand Theft Auto, and and you can do that within Genie and start moving yourself around it as if as if you'd been you just prompted it to life. And I think you said you've got um family who are quite young creating these games, aren't you?
00:19:19 · Mal McCallion
[00:19:19] S0: Yeah, and this this is fascinating because um so so I've I've got part of a big family, I've got six brothers and sisters, so I have like 15, 16 nieces and nephews, and the younger elements who are like five and eight. They've been basically going and building stuff. One of the ones Roblox, the youngest one, um, but it was he's a Coventry City fan of all things, and uh he's been building Estate from Coventry City Stadium, and it's just this Roblox game that he's just like built, and it's like it's it's so good, and it's like you know, it's five, whatever. And then his older brother um built this kind of like a shooter first, an overhead shooter that looks like it's something to do with uh some kind of um brand that he's really into. But again, you know, it's just these mash-ups of kind of ideas of like, you know, well, what could you know if if I was doing I don't know, space invaders, but instead of space invaders, it was I don't know, million cricketers, whatever. I mean, you know, that that that sort of stuff, you can just mash this thing, these things up now with these these world models and just just and and I think this is where a lot of people are worried about creativity. A lot of people worried about, you know, well, what's gonna happen when you know we us humans we're not gonna be able to you know build stuff anymore? It's almost completely the opposite in my view. It's like what happens when you can build anything. It's like it's that problem rather than the other problem, which is oh my god, we're gonna be just sitting here like serving the AI. I just think, you know, if if if we kind of look up a bit and go, right, what is the thing? And again, you know, you might start with your business and go, what's the thing that's the biggest problem for me right now today? What do I do every day that really I get so bored with and or my team is just relentlessly having to do instead of going out and talking to guys and building relationships, and just focus on that and get, I don't know, little carbon when it comes out, or get um ChatGPT Astra, or get Mythos from Anthropic on there from Claude, um, and just just ask it the question and see what happens. That to me is is the joy of this this this amazing period of of our time um because there's just so much to to to do. Yeah.