Lifeselfmastery's podcast I Startups I Venture Capital
00:28:13 · Rohit Malhotra
[00:28:13] S1: Right. And, you know, Marcus, you talked about AI, but what jobs or businesses in Latin America do you think AI will reshape first and how should an SMB owner prepare for that AI revolution?
00:28:31 · Marcus Dantus
[00:28:31] S2: Look, Rohit, this is a very controversial subject. But let me tell you my point of view. I am personally very optimistic with AI, very optimistic. Actually, the thing that worries me with AI is not that the killer robots are going to destroy us. It's more that these very large companies might not be as successful as they deem to be, and there is a financial crisis because of their downfall. That's actually the thing that worries me. I think that AI is a fifth industrial revolution. And with every industrial revolution, you know, you know, we talk about electrification for... Or mechanization, you know, the first one. Everybody was worried that the machines were gonna cut our limbs, you know? And and with electrification, everybody thought that we were gonna be electrocuted. With computers, everybody thought that we were gonna... Our minds were gonna shrink because the computer was gonna do everything. And then with the Internet, we were gonna lose our identity. And of course, with AI, killer robots are gonna get us. In every single industrial revolution, if history has taught us something, everybody was worried about losing jobs. And in reality, a lot more jobs were created. And not just a lot more jobs, but more value added jobs that got better salaries. When machines were created, yes, some of the people on the, you know, factory line lost their job, but many of them became machinists or design machines or maintain machines or, you know, the same happened with computers, you know. When computers started, a lot of jobs were gonna be lost, but then we have a million jobs of programmers and, you know, system operators and system maintenance. I think a very similar thing will happen with AI. I think that a lot of new jobs are going to be created and the jobs that currently exist will be enhanced. Now mind you, there is another factor that changes things, which is the speed at which AI is being adopted. And so... And I think that both education and legislation need to catch up with it. And those are the two main things. But if we regulate it properly and we educate people on how to use it, I think a world of opportunities will come. You know what's interesting, Rohit? I heard the other day throughout, you know, for the past one hundred and fifty years, technology has evolved incredibly in human society.
00:31:25 · Marcus Dantus, Rohit Malhotra
You know that there's only one job, only one that has disappeared? And you know what job that is? Elevator operator. [00:31:34] S1: Yeah. [00:31:36] S2: So, I mean, if you think about it, I don't see the doom yet happening, but I do think we need to hurry and we need to control and regulate and educate people into this technology. [00:31:52] S1: Very interesting because I come from a very small town called Chandigarh in India and I saw an elevator operator and I was surprised that he was asking me which floor do I want to go. So in very small cities in India or Southeast So that [00:32:11] S2: job hasn't even disappeared. True. [00:32:16] S1: You know Marcus if an 18 year old is listening to this podcast and he might be overwhelmed with what he needs to learn when he graduates out. What advice would you give to him on how to prepare well for a job when he graduates in four years' time?
00:32:38 · Marcus Dantus
[00:32:38] S2: So a couple of things. First of all, I think that especially with technology and even more especially with AI, I think that we need to focus more on becoming specialists, specialists at something. So the first advice that I would give them is never stop learning. You know, the world moves super fast and you need to continue learning constantly and continue specializing on something and become an expert at something. And that will make you very valuable. The second thing that I would tell them is be patient. I think that a lot of young people, because of technology, are no longer patient. They think everything happens in seconds because, you know, now you can access all the music catalog of the world with one app in a second or the movies and the series or you can even, you know, find a, you know, a partner in an app just by, you know, clicking a button or swiping left, you know. But I think that the most... The truly important things in life take time, you know, building a reputation, building a family, becoming successful, at least considering yourself successful. And there's a phrase that I love, which is, you know, success, immediate success takes years, no? Yeah. And that that is something that I would recommend them. So so study a lot, become an expert. Look for problems in the world and solve them. Hopefully become an entrepreneur. We need a lot more of those And be patient because things don't happen that quickly.
00:34:39 · Rohit Malhotra, Marcus Dantus
[00:34:39] S1: Got it. And Marcus, you've given more than 200 plus keynotes in the last five years where you've been running funds, being part of boards and a TV career. How do you protect your energy and decide what to say no to? [00:34:56] S2: And decide what? [00:34:57] S1: What do you say no to? [00:35:00] S2: Well, I mean, look. I say no to things that completely saturate my schedule and won't allow me to Yeah. To sleep properly, of course. Yeah. I say no to to to events or or to conferences where they ask me to give some kind of expert talk, and I don't know what I'm talking about, of course. Yeah. Because, you know, I don't know everything. And and, you know, and sometimes I want to rest. So sometimes I say no just because I need the the break. But but in reality, I think that's... Look, it's it's very... I I... I'm very flattered that I found something in which I can leave a legacy in the world by doing what I do, by helping people become entrepreneurs and by helping people create their companies and grow them and generate prosperity through entrepreneurship. And I don't think that many people find what they're gonna leave the world with. And I think I found it and I'm very happy about it. So so so anytime I have an opportunity to give a talk, to help people, to to take a picture with somebody and inspire them or anything like that, I'll do it, you know, providing that I that I can. [00:36:32] S1: Got it. And, you know if you could sit down with the founder who's about to give up, what would you tell them in a short sentence?
00:36:32 · Rohit Malhotra, Marcus Dantus
[00:36:32] S1: Got it. And, you know if you could sit down with the founder who's about to give up, what would you tell them in a short sentence? [00:36:45] S2: Look, a lot of people ask me this question, when do you know when to give up? Yeah. You know, and how do you know if resilience becomes something else, you know, and becomes stubbornness, if you will. [00:37:02] S1: Yeah. [00:37:02] S2: My my suggestion is that I... The way I see it, I think this is a very personal issue, and I think that people have to make this decision on their own. Don't listen to anybody. But my my two cents on it is that usually when you do something, you know, a lot of doors open and some doors close. Eventually, a lot more doors close than they open. And eventually you just get closed doors and that's when things change and nobody else wants what you're doing. And if you recognize that pattern and if you recognize that there's no longer more opportunities but just doors shutting down in your face, that's probably when you either pivot or quit and do something else. That that would be my suggestion. But, again, I think it's a very personal decision. [00:38:00] S1: Got it. Yeah. And absolutely. Marcus, I quickly want to do the top three. What's your favorite business book?