01:10:48 · Luca Ferrari
[01:10:48] S0: Well, think every time there's something moving very quickly and being newsworthy, there is a lot of exaggeration and misunderstanding. I I think on the one hand, some people think AI today can do more, and this is typically people who don't really use it, but mostly read about it, they think it can already do everything for you, and it's a lot more advanced than it is. As impressive as AI models are, I think today they still have very glaring limitations across most use cases. So I don't think we're at a point where you could hand over the keys of your life or work to AI, and you could actually trust it to add significant value, think there will be a good risk that things could go awry, but the trajectory is certainly very promising. Then there are people who rightfully fear that AI will destroy jobs, and I've changed my mind at this point recently, but it's certainly a very important topic. But rather than thinking of proactive ways of protecting prosperity and people more than workers, people, they go on the defensive and they try to come up with these more protectionist regulation or approaches, which are obviously an awful idea, because a country that doesn't embrace AI, unless every country in the world stops progressing in this field, which I would say we could put in the bucket of the impossible things pretty much, again short of world war, a country that does not fully embrace using AI best into complete irrelevance and basically, becoming third world, and probably, maybe even just a few decades. So that's a certainly a dumb approach, although it's a populist approach and as such, help occasionally get votes. Yeah, maybe those are some of the more remarkable extremes I've seen, but we could talk about it for a long time.
01:12:51 · S1, Luca Ferrari
[01:12:51] S1: We can talk about it for a very long time. We have to get to the walking portion, but before we do that, I just want to ask you, what are you most looking forward to in the next twelve months? [01:13:04] S0: Well, there are many things, but I'd say probably further progress in our in house technologies, especially taking advantage of AI. We have very, very big plans and we're seeing massive progress. I do think that, you know, we talked about it before, Spoons, you know, the central team, $4,000,000 in revenue per member of that team, and this has grown tremendously. It was about $1,000,000 just two, three years ago. I think we're about to see this keep rising pretty fast, and a lot of that, some of it is scale, just bringing together this business and integrating them all together creates tremendous leverage, a lot of it will be technology and so I'm really, I can't wait to see some of the things we're working on and we have in mind actually come to fruition, I think it'll be extremely exciting. We try to constantly reinvent what running a business effectively, efficiently looks like, be at the cutting edge of that, so that we can then go out into the world and buy businesses for really good prices for sellers and deliver high returns, the technological aspect of that progress is very exciting to me. [01:14:17] S1: Amazing, well, thank you so much for hosting us here today and having us at Bending Spoons in Milan. This is amazing. So excited for all of the other conversations we're going to have with your team. Thank you so much. Thank you.
01:14:17 · S1, Molly O'Shea
[01:14:17] S1: Amazing, well, thank you so much for hosting us here today and having us at Bending Spoons in Milan. This is amazing. So excited for all of the other conversations we're going to have with your team. Thank you so much. Thank you. [01:14:32] S2: Hey. It's Molly. If you enjoy our interviews, check out our newsletter, sorcery.vc, where we deliver a once a week top deals and tech headlines email, and also go deeper on our podcast interviews. Subscribe to Sourcery today, and don't forget to subscribe to the podcast on YouTube, Spotify, Apple, or wherever you listen. Link in description to sign up.