Gavin Baker - AI, Semiconductors, and the Robotic Frontier - [Invest Like the Best, EP.385]
Episode publishedPodcast: Invest Like the Best with Patr...Invest Like the Best with Patrick O'Shaughnessy
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2 fun facts about our newest sponsorship partner, Ramp. 1st, they are the fastest growing Fintech company in history, reaching a level of revenue in 5 years that I can't quote exactly, but is eyebrow raising. 2nd, they are backed by more of my favorite past guests, at least 16 of them when I counted, than probably any other company that I'm aware of, a 16 of them when I counted, than probably any other company that I'm aware of. A list that includes Ravi Gupta at Sequoia, Josh Kushner at Thrive, Keith Raboy at Founders Fund and Khosla Ventures, Patrick and John Collison, Michael Ovitz, Brad Ge
Patrick O'Shaughnessy is the CEO of Positive Sum. All opinions expressed by Patrick and podcast guests are solely their own opinions and do not reflect the opinion of Positive Sum. This podcast is for informational purposes only and should not be relied upon as a basis for investment decisions. Clients of positive sum may maintain positions in the securities discussed in this podcast. To learn more, visit psum.vc.
My guest this week is Gavin Baker. Gavin is the managing partner and CIO of Atrades Management, and he has been on the show many times before. He is one of my favorite investors to talk to, and this may be my favorite conversation with him. Gavin first started covering NVIDIA as an investor at the turn of the century, making him the perfect guest to discuss all things AI and investing. There's so much detail in this conversation, and I'm incredibly grateful to Gavin for sharing his wisdom with us again. Please enjoy this fantastic conversation with Gavin Baker. Alright, Gavin. You and I have a
I think these companies were all in their own discrete swivelades for a long time, competitive swivelades. The only place where they really overlapped was cloud computing, where you had Google, Amazon, and Microsoft all competing. But that was a very stable oligopoly. Google cut prices aggressively, something like 2014, 2015. Amazon matched. And that actually materially impaired Amazon's revenue growth and fed into all of these fears that cloud computing was gonna be a commodity, which was a real fear, hotly debated topic, looks deeply ridiculous now. And I think that set the stage for, like,
Last night, my daughter on the way home from dinner said to me, hey. Can you ask chat g p t some question? And I said, do you chat g p t on your iPad? And she said, no. Not yet. You have to get it for me. I said, well, just Google it. She goes, what's Google? Wow.
I wanna see it. She
she goes, Google's not a real thing. That's what she said. They just use chat tbt for everything. My son uses it for everything. She's 8. He's 10. Wow. It's just fascinating to think about, wait, what? What did you just say? And they use it all day. They use Dolly all day, every day. Search in their mind is chat GPT, which is just a fascinating thing for kids that could use both if they wanted to. And rather than a search engine, they just want the answer engine. And I just find that completely fascinating.
Absolutely. What does it mean for humanity? The open Internet has been really, really good. And, yes, we have these walls, content guarded now, but there's still, like, a very robust, vibrant open Internet where when you Google, you do get divergent opinions, generally, you know, even though we're all in these well known filter bubbles. But if you just get one answer, I actually think we're at an important moment. It's very rare that, to me, investors can really, really contribute to the world. We contribute in aggregate, in an indirect way, in a massive way because we fund all the
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