Blake breaks down how AI can help with cost segregation and explains why AI currently works best on tasks that take humans 2-5 minutes. Michael Burry is betting against AI companies, claiming they're manipulating earnings by stretching server depreciation from 3-4 years to 5-6 years, adding billions to their bottom lines. Also covered: Intuit's $100 million annual OpenAI deal to integrate QuickBooks and TurboTax into ChatGPT, new bank evidence in the Rippling corporate espionage case, and a survey showing 10% of adults are acting on AI tax advice despite error rates up to 50%.
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Chapters
- (00:00) - Welcome to The Accounting Podcast
- (00:49) - Blake's Illness and Recovery
- (02:05) - Upcoming Topics
- (04:06) - Cost Segregation Explained
- (06:46) - AI in Cost Segregation
- (11:15) - AI's Current Capabilities and Limitations
- (19:10) - Intuit's OpenAI Deal
- (22:01) - Intuit's Strategy and Industry Implications
- (30:12) - Michael Burry's New Bet Against AI
- (31:21) - Depreciation and AI Companies
- (39:15) - Rippling vs. Deel: Corporate Espionage
- (42:44) - New Jersey's Alternative Pathways Bill
- (44:39) - AI's Role in Tax and Investing Advice
- (47:37) - Defining Audit Quality: PCOB's New Initiative
- (51:56) - FASB's Costly Lease Standard
- (56:13) - Ancient Accounting Systems in Peru
- (58:45) - Conclusion and Viewer Interaction
Show Notes
Coming soon!
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Transcripts
The full transcript for this episode is available by clicking on the Transcript tab at the top of this page
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