01:47:53 · Jordi Hays, Vineeta Agarwala
[01:47:53] S0: Sure. [01:47:53] S7: Were followed by a number of models that were open sourced. And within a period of weeks, thousands of scientists, thousands of companies adopted, additional structure prediction models. Mhmm. Boltz two was a popular one. The Chai model. A number of startups put out open source models, and we saw really fast adoption, which is kinda cool. Right? It's like it's a scientist sitting in a company who says, I wanna try that, you know, and see if it would help my workflow. And, actually, I wanna benchmark it, and I wanna try three at the same time. So we didn't have that many great open source resources like that before we had datasets, but not necessarily models and APIs to those models that made them easy to use. So I think that that in that whole ecosystem is in its, like, square one infancy of growing and exploding, but you're gonna need a library of models. You want to be able to try all the models. You want your agents to be able to use the models without even a human interface. And so suddenly, the same thing that's happening in enterprise software in every vertical is gonna happen here too. You know? Agents on behalf of scientists will be able to select which models to use, try five models at once, and then incorporate the results and predictions of those models into a workflow, you know, that is deeply integrated with, you know, with other agentic automation. So it's none of that's built, I would say, for for the vast majority of the industry. And so it's a huge, huge opportunity for startups to build.
01:49:25 · Jordi Hays, Vineeta Agarwala, John Coogan, Casey Neistat
[01:49:25] S0: Yeah. Last quick question. Maybe if you could answer in in sixty seconds, that's the challenge. What what is the, what's the vibe on the Stanford campus right now? Are people dropping out of, you know, PhD programs to start companies in in bio? I'm sure we're seeing, people dropping out of PhDs to join meta and other AI research orgs broadly, but I'm curious if that's happening in in bio. [01:49:53] S7: There are a number of fast growing AI biotech startups, right, that are bringing AI and computational tools to model training. So we are seeing that. If you're asking, know, is it a response to federal funding changes? I think the you know, that's always been the case that a large fraction of trainees from university campuses end up in biotech and pharma companies, and that's great. It's a great outcome. I don't think you know, I do think there's probably, in the near term, going to be continued exploration of industry alternatives to federally funded research. And I really hope that there that the the, you know, federal grant funding is clarified and and and and that there's more stability on university campuses for federally funded research because some of that infrastructure is absolutely has been behind [01:50:45] S0: Shaking. [01:50:46] S7: A huge number of these of these innovations. [01:50:49] S0: Makes sense. Thank you so much for joining. [01:50:51] S1: Yeah. You [01:50:52] S0: so much. Great to chat. [01:50:53] S1: Talk to you soon. Cheers. [01:50:54] S6: Thank you.
01:50:54 · Casey Neistat, John Coogan, Micky Malka, Jordi Hays
[01:50:54] S6: Thank you. [01:50:55] S1: Next we have Mickey Malka, the founder of Ribbit Capital. Really quickly I will tell you about AdQuick. Out of home advertising made easy and measurable. Say goodbye to the headaches of out of home advertising. Only ad quick combines technology out of home expertise and data to enable efficient seamless ad buying across the globe. And, we hopefully have Mickey Malka. How are doing Mickey? Good to meet you. [01:51:16] S8: Hi guys. Good to see you John and Jordi. How are you guys? [01:51:18] S1: Welcome to the stream. [01:51:19] S0: Great background. [01:51:20] S1: Yeah. What's going on background. Break it down for us. [01:51:23] S8: Those are some NFTs. Wonderful. From an artist called Bright Moments. They did a exhibition all over the world, and these are crypto citizens from the 10 cities around the world where they had their exhibitions. [01:51:35] S0: Amazing. Amazing. It's great to have you on the show. We've been excited for this. You guys have been on a absolutely crazy run and it's awesome that you're starting to talk about it a bit more. [01:51:46] S1: Yeah. I wanna start with like your background. I think that you might actually have a nontraditional path to venture or at least a very interesting entrepreneurial journey prior to launching a venture firm. So can you just give us a little bit of on your history and how you wound up running
01:51:46 · John Coogan, Micky Malka, Jordi Hays
[01:51:46] S1: Yeah. I wanna start with like your background. I think that you might actually have a nontraditional path to venture or at least a very interesting entrepreneurial journey prior to launching a venture firm. So can you just give us a little bit of on your history and how you wound up running [01:52:01] S8: Of course. Ribbit. So I'm an entrepreneur, and I'm still entrepreneur. It just happens that I started when I was 17 years old, and that's all I know how to do. And I started in financial services. Growing up in Venezuela in the early nineties, it was inflation, crises, bank failures, all the things that you need to learn in your life. I had them by the time I was 22 years old. [01:52:25] S0: Speedrun. [01:52:26] S8: Oh my god. Yes. Lightspeed through all of that. So I started four different companies around the world before the the word fintech or crypto even existed, always trying to do something in in around the Internet and making money better. Simply, that was the whole thing. [01:52:43] S0: And And what did and what did did some of those first companies look like? Were they specific to problems that you were having in in Venezuela, or were they global by nature? I I love some advice.
01:52:43 · Jordi Hays, Micky Malka
[01:52:43] S0: And And what did and what did did some of those first companies look like? Were they specific to problems that you were having in in Venezuela, or were they global by nature? I I love some advice. [01:52:54] S8: One was it was the first online trading platform for Latin America. A little bit what Robinhood is today. Yeah. But imagine that in 1998 in the beginning of the Internet, and you could trade online stocks of every local Latin American market. Mexico, Argentina, Venezuela, Chile. We had a Brazil. We had a we bought its stock exchange seats in all of them, we were able to allow people to trade. So Amazing. That that was the one of the first ones. And then I I And you were you were [01:53:23] S0: you were, like, 20 at this time? [01:53:26] S8: I was 23, 24 when I started. Yes. [01:53:29] S0: Wow. [01:53:29] S8: That company. And and there were no venture capitalists in Latin America. There was nobody. We had to convince some people in The US and New York to fund us and headquarter in Miami to avoid any kind of problem with choosing a place in Latin America. And and that company became the largest online broker dealer in South America. [01:53:51] S0: Wow. Insane. And then where do you go from there?
01:53:51 · Jordi Hays, Micky Malka, Alex Hawkinson, John Coogan
[01:53:51] S0: Wow. Insane. And then where do you go from there? [01:53:56] S8: I went to Spain because my first company was acquired by a big Spaniard bank, and the Internet had blown up. Little bit like when they think it was all hype. It will happen to AI eventually when they will all and people will think it was it was all wrong in, eventually, the future. But and I started the first online bank in Europe. There was no online banks. It was a bank called Openbank because it was supposed to be open twenty four twenty four seven, three sixty five. It still runs in Spain, and it was Were [01:54:26] S0: you were you the [01:54:27] S8: starting bank. [01:54:27] S0: Was was adding open to the start of a word? Were you the first person to do that? A trend. [01:54:32] S2: Open a high. Open store. [01:54:35] S8: We're taking over the open words these days. [01:54:38] S0: Yeah. Yeah. Pay [01:54:40] S1: me my fee. I I coined that. Yeah. That's wild. What what who is the first LP to kick you off? Like, what was the story [01:54:49] S0: Well well, first, have to ask. I'm I'm assuming there wasn't bank there wasn't like 20 banking as a service platforms back How did how did you get how did you how did you convince a bank to in In banking. In Europe to to bank? [01:55:00] S8: Well, I I I had to become regulated. By the time I was 25 or 26, I was regulated by eight central banks Wow. To go through the whole KYC bank approval process myself. [01:55:13] S2: Was the same thing [01:55:14] S8: I learned?