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February 5, 2024 • 20 mins
In this episode, Abdul breaks down the key takeaways from the 2024 World Economic Forum in Davos. From the societal impact of AI to digitization for sustainability, regulatory tipping points, and the debut of crypto ETFs, he explores the dynamic discussions that unfolded at this global gathering. Join us for a concise journey through the highlights that are reshaping our world.
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Episode Transcript

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(00:02):
Good Absoluton, ladies and gentsmen,Welcome back to Investors Die podcast, where
we help you work smarter and harderby providing market updates and insights. So
today we'll talk a little bit aboutthe World Horror Meeting, well sorry,
quite a bit about the World FormMeeting in Davas the other week, and
then some updates on the bigcoin ETFspotty TIF that was approved ear this month.

(00:23):
So with that, let's jump rightinto it. Basically what we're doing
unpacking aftermath of this meeting. Andthis meeting kind of felt like a return
to the good old days pre pandemic, with crowds and debates and it was
very lively, right, But let'sgo into our first hot topic, which
is the societal impact of AI.Now, I know you've probably heard about

(00:46):
AI quite extensively the last year,but yeah, this futuristic tag is now
suddenly at the center of global debates. There's a genuine concern that AI might
outsmart humans, leading to some extenseexistential risks. And here's a kicker,
it could exacerbate inequalities, concentrating powerin ways that keep us, you know,

(01:07):
up at night. So where doI send all this it's double edged
sword. On one side, you'vegot Alex Casado, co founder of Alliance
for AI, who's advocating for amore inclusive AID development, especially outside wealthy
nations, with you know, tearsto that but you know DEI, So
diversity, equity inclusion might be abit of out of fashion in some business

(01:30):
circles, not for big tech,because you know they're well aware that addressing
bias in AI is cmusual. Sothe wild card in this deck is the
idea that AI can be a forcefor leveling the playing field, not just
widen the gap. Another rapper,I am will I am storing the card
out into that mix, and Ikind of see where he's going with that.

(01:51):
But there's a catch as always,so Yan Lcun, chief AI science
at Meta Facebook, drops some knowledgeand says that any demarketization of AI re
subsidized computing power for institutions outside ofbig tech, open source and research and
in regulation that don't squash new players. So you have a delicate balance.

(02:12):
You know, you need an evenplaying field where you don't have monopolies,
you don't have people have them unfairadvantages or high barriers to entry. We
need a lot of new innovation iswhat he's saying. And in my humble
opinion, I think AI is likea force. This is like a force
of Star Wars. Right. Itcould be used for good or evil,
And the key is how we Wieldn'tyou know? If we navigate these uncharded

(02:37):
territories with caution, ensure, inclusivityand fair play, AI could indeed be
a powerful ally in our collective journey. Right, And of course you know
we do know AI. You know, with this remarking ability to process fast
amounts of data outcomes, it doeshold the problems of transforming various fastest of

(02:59):
our lives. But my main pointhere, all I want to drive room
is I feel that AI should justbe a tool, right, a tool
to complement what we are already doing. You know, take this one example
when you think of well, Ithink are one of the more concerning domains
where AI could wield, you know, be dangerous. And it's when it

(03:23):
could wield disproportion influences in key matterslike war. Right, when you allow
machines to make split second decisions onlife, life or death, and that
that kind of really messes with ethicaland strategic dilemmas, right, and the
idea of removing the human element fromthe equation mind team efficient you know,

(03:43):
you don't have you know, fearor human emotion, but also divorces decisions
from the laws understanding, you know, the empathy, the moral considerations that
define our humanity. Right, soit is paramount that we view AI as
a tool. We can't let AImake these decisions or have influences on key
matters like this and not become dependenton AI. Right, it should not

(04:06):
be an infallible oracle. You know, human oversight at the considerations and commitment
to preserving our moral compass must remainat the forefront of our decision making processes.
So I think that's has been echoingin the meetings. That's how that's
This is where I stand on thiswhole topic. Now, let's move on

(04:27):
to the next topic that I wasdiscussed, which is the digitization for sustainability.
Right, So shifting gears, it'slike the text superheroes are almost joining
forces to save the planet. Yeah, Bill Gates, who's leading the charge.
You know, just imagine him touringDavis with you know, an AI
enabled ultrasound gadget, you know,all set to revolutionize maternal health and developing

(04:54):
world. That's some I would say, some real tony stark energy, right,
like as the billgates the tony starksof our world. But it doesn't
stop ad ultrasound gadgets. You know, we're talking about using digitalization to tackle
climate change head on. Will Marshallfrom the Planet Space Group is turning satellites
into climate warriors, like the dataanalyzed with AI to support carbon markets and

(05:18):
ensure solar panels are doing their job. And then you have Katie McGinty also
talking about AI delivering a net zerofootprint in buildings. So Priston University cutting
its carbon foot by around seventy percent, which is impressive. It's like using

(05:39):
AI as a sustainability sidekick, youknow, fine tuning the development of renewable
energy either. You talk about adynamic duo. All right, but let's
not forget the unexpected hero in thisnarrative. Just aircraft toilets. Yeah,
So the US government is using machinelearning to analyze wastewater samples from plane landing

(06:01):
scanning for new viruses. So nexttime you're on a flight, remember AI.
You know, my br a secretweapon against you know, some unseen
threats. So again I just wantto add my take on all this nothing
you know short of digital revolution withyou know, the green twist. You
know, we're in the same techinnovation aligning with sustainability goals, and that

(06:26):
is Applaus I can get behind.Right. If digitization can be the driving
force behind a more sustainable future,then count me in. It's not just
about tech for the sake of tech. It's about tech with the purpose,
a purpose that goes beyond profit marginsand contributes to the greater good. So
so I'm happy right now, Let'smove on to well, let's entering the

(06:53):
regulatory roller coaster, and this isreally reaching a tipping point, at least
according to annual fabri favor So thechair of International Sustainability Standard Board, so
pick of this right. Environmental tippingpoints are something climate experts are all too
familiar with, but now we're facinga regulatory tipping point. Why Well,

(07:15):
sustainability reporting measures are popping up everywherelike mushrooms after rain. But the problem
is that they're not consistently global,right. So they're not consistent globally right,
And it's like trying to dance thetango when everyone's got a different rhythm.
So we're not all insane. Andit's either like we're all heading to

(07:38):
increase fragmentation, making a nightmare forcompanies companies to navigate, or and this
is more optimistic scenario, momentum mightbuild for a for more unified models.
So who's the referee right in allthis regulatory dance? All so, Fabri
seems to be rooting for a unifiedmodel, and he's got his eyes on

(07:59):
the europe Sustainability rules, which fortunatelyaligned with international Sustainability Standards Board. So
we're trying to we're trying to findpeople, We're trying to find a match
here and then then that has awhole goal with this And again there's a
wild card in this game. Andthe sec the Securities and Exchange Commission are

(08:20):
stepping back from the Scope three rulesand that's raising some eyebrows. So will
this decision create a regulatory rift orwill they or will will will they find
harmony? Right? And the juryjury is still out. And my two
cents and all this drama is we'rewatching a high stakes poker game almost right,

(08:41):
and the players are the countries andthe chips are environmental regulations. A
unified approach sounds like the winning hand, ensuring consistency and making life easier for
companies. But we're at crossroads andthe decisions may naturally shape the future of
you know, global sustainability reporting.So that's that. Let's talk a bit

(09:01):
more. So, let's think aboutthem. That's god, everyone I feel
in the green tech world checking theirperiod tables. And this is actually a
focal point in called twenty eight thatthe privilege of attending in December last year.
So these elements are like lithium nickel, These are really the unsung heroes
powering the renewable energy revolution. Butthe plot twist here is most of the

(09:24):
supply chain for these minerals are doingare doing like the cha chat with China,
right, and that's got corporate boardsand security institutions on edge. In
this Dallas dialogue, the chatter revolvesaround one big question, can we diversify
our mineral resourcing? Our mineral sourcingand entered delegations from Ukraine waving the flag

(09:46):
with their HEADNOS reserves of critical minerals. Sources say that these resources could be
worth trillions. It could become Europe'sgo to if infrastructure stars online. How
are the plot twists thickens. Youknow, you have China and even Russia
whom are eyeing Ukraine's mineral treasure test. So the Strawmak is kind of interesting

(10:09):
because while we're all caught up inthe Ukraine saga, some of we're spring
about hidden deposits in Chile, inScandinavia and even beneath the ocean waves.
So but hold on to your hats, because it's not just about where these
minerals are. It's also about wherethe Messi refining takes place. So what

(10:31):
strikes me is it's not just talkingabout rocks and minerals. This is really
a new political issue for control andaccess right and this could reshape the balance
of power. Pictured like a highhigh stakes tess game with country strategically positioning
their pieces to secure a grip onthe minerals that power our green future.

(10:54):
And the winner of this game mightjust hold the keys to the next phase
of the renewable energy revolution, andthat will be interesting to watch. Very
So let's shift gears and talk aboutthe fifth So I haven't been counting,
but it's not the fifth fifth topic, uh, And this is the power
of partnerships for the world economic formsannual survey tells us one thing out and

(11:18):
clear, and as public private partnershipsand industry alliance are all the rage and
why not the challenge face today,especially on the stainable sustainability front. Are
are are are our immense right?And no loan ranger company can single handle
these can rehandle these things, right. So look at Pepsi and polke Pola

(11:43):
right, kind of the the Batmanand Superman of the soft drink universe.
Uh, they're not putting aside theirrivalry capes and now they're actually working together.
It's like watching It's like watching theRed and Blue Giants right team up
after decades of bat like the twoenemies almost that that are going at the

(12:03):
next Goku Vegeta. Then you knowif you watch Dragon ball Z but A
like that, right, And thenJim Andrew, the chief sustainability off of
Pepsi, kind of spilled the beanson how these rivals are now exploring collaboration
on issues like regenerative agriculture and watersupplies. But because these companies use water

(12:24):
in all the products, right,you can imagine, so that's obviously something
that they want to collaborate on.So it's not just about soiler giants.
You know, companies like cost theBoard are realizing that the unity is strength,
right, and when it comes totackling the big issues. And let's
not forget the political cover that comeswith operating as a group, right,

(12:46):
it's kind of like a shield againstblacklash in a way to kind of trim
the costs right when you work together. Now, my my my opinion that
is, I think this trend islike watching these superpowers, these avengers assemble
right businesses and joining forces to savethe world. But here's the kicker.
It's not just about doing good.It's also about survival. And in this

(13:07):
era of hidings, scrutiny and shiftingvalues, pardoning up, it's not just
a choice, it's a strategic imperative. So as we witness these corporate alliances,
it's not just about the business.It's not business of business, but
it's about business of saving our planet. So, you know, commend them
for that. And lastly, let'stalk about ESG. Right, So this

(13:30):
is kind of this buzzword of corporateboardrooms for a while. Right. ESG
short for Environmental, social and governmentgovernance. Right, but guess what in
the in Davis ESG seems to havetaken a vaccine. It's like, you
know, you've had a bit tomattention and now it's like, okay,
now you're on the spotlight. Butwhy, right, why when this has

(13:52):
been like a hot you know,buzzworth for last year and you know,
we blame it on the political rollercoaster and the ESG backlash, especially in
the United the United States, theterm is barely whispered, if at all,
during discussions. Right, It's it'skind of risky to utter a lot.
And interestingly, the exception to thisis to this, you know,

(14:15):
the social around ESG is Takashi Nyanami, so the CEO of Sensory, the
Japanese Dreams Group. According to him, in Japan, they're still happily throwing
around the term. However, thetwist, it's not just about green initiais
anymore. It's about addressing social issueslike fighting poverty. So while ESG might
have been you know, there mightbe you know, not as commonly used

(14:39):
anymore, the principles behind it arevery much alive. The focus is shifting
from a tagline to action. There'smore actions to us, not just words,
right, from ticking boxes to actualimpact. It's a subtle recalibration,
a move from look at that's doinggood to look at the resilience we're building.
The reputation for crappling sustainability is comingless of a badge and more of

(15:01):
a strategic play. So while itisg might not be hogging the limelight,
its spirit is very much alive andkicking in the allies of Davas. So
that's Dallas twenty twenty four for you. A roller coaster of tech, g
and politics and sustainability. And asthe world grapples with big challenges, Davas
remains the arena where leaders hashed outsolutions. Right, It's not just a

(15:24):
summit, it's a crucible for ideasin the global melting point. So that's
that story. We'll jump right intothe splashes the currency ETFs made in the
market. So the world of youknow cryptocurrencies took another twist with the debut
of you know these ETFs in theUS and in the first three days we

(15:48):
come to the story in our lastepisode. But in the first three days
of trading, these funds mats topull in a staggering eight hundred and seventy
one million dollars and there's no smallfeed and it's clear that investors our eyeing
these new market vehicles with a mixof curiosity and caution. The heavyweights leading
the charge none other than financial giantsblack Rock in Fidelity. Black Rocks spearheads

(16:10):
the pack with an impressive seven hundredand twenty three million interflows, closely followed
by Fidelity not far behind with fivehundred and forty five million dollars appestment to
the confidence these institutional giants in stillin the market. However, every high
has its slow and in the scenario, Grayscale, which has been a long
standing player in the crypto investment scene, saw outflows of more than one point

(16:33):
one billion dollars. Now for yourgas a Swiss, Grayscale wasn't just seeing
money flow out. It was astrategic move. They covered their They converted
their existing twenty eight billion dollars abig point fund into an ETF. Alongside
the new launch you're playing a partof in reshaping the crypto investment landscape.

(16:55):
Sidelines are reading the situation as ashift of investor allegiance from Greyscale to these
new shiny ETFs, primarily driven bythe lure of lower fees the competition seems
to be shaking things up, andexcluding Grayscale outflows, these ten new ETFs
have pulled in over two billion dollars, a significant influx, showcasing the potential

(17:19):
these investments product hold. The approvalof these ETFs by the US Securities and
Exchange Commission marked a historic moment fora crypto enthusiasts after a decade of rejections.
The expectation was that this approval wouldattract new investors and in the long
run, give a boost to thecryptocurrencies price. However, reality has a

(17:41):
way of throwing curveballs. Despite theall this high bleeding up to the launch,
bigcoens price has experienced a six percentdip since the ets called the green
light. Now where it gets interesting. This work is interesting, right.
The collective performance of these funds didn'tquite match the fireworks approchures. Rich Rag
rated in the cool one billion dollarsin the first two days after launching a

(18:04):
Bitcoin futures ETF in October twenty twentyone. Some might call it an underwhelming
launch, giving the anticipation. Grayscale, with its Bigcoin Trust running since twenty
thirteen, played a pivotal role inopening the regulatory door for bigcoin ETFs.
The recent conversion is seen as anopportunity for investors to reashelf with their holdings.

(18:26):
Previously, selling grey scale holdings happenedin the over the counter market at
a discount, but with the ETFconversion, the game has changed. Critics
are quick to point out that greyscalecharge at one point five percent fee over
a percent over percent point higher thanthe new market entrance. The dynamics are
shifting and profit taking seems to bethe name of the game, especially after

(18:47):
a sharp runup in cryptovaluations, andinterestingly, not all players are jumping onto
the ETF bandwagon. Vanguard, thesecond largest asset manager globally, expressed that
these new products didn't align with theirstrategy of offering a well a bank long
term investment portfolio. It seems likeeveryone is ready to write the crypto orld
coast just yet. As it doessettles, analyts predict that it flows into

(19:10):
bitcoin ets will take some time tomaterialize. Advisory to get comfortable with these
parties before recommending them as portfolio editions. It's a gradual process, and as
one executive puts it, it's notabout day one it's going to take some
time to have a full education andunderstand its role in a portfolio, and

(19:30):
the long term prospects are what excitesthem the most, offering them offering access
to an italily new market. Soin conclusion, the debut of bigot ets
like a new chapter in the cryptocurrencysaga. It brings both excitement and skepticism,
and only time will tell how thisnarrative unfolds. For now, crypto
enthusiasts are keen you keep it akey eye on the charts, waiting to

(19:52):
see the next move in this dynamicand ever evolving market. So that's a
wrap for to today's episode. Wedid dive into the world of crypto her
c ETFs and also talked about themeetings in Dallas h And actually I have
a little update for you guys.Unpacked my bags currently and hitting the road

(20:15):
back to Melbourne, so we're gearingfor some exciting changes. The podcast is
good to make a turn to thenormal setup, so I'll be back in
the recording studio at the university,you know, with your familiar surroundings and
all that, and hopefully we'll aimto bring more engaging content, more guest
interviews and hopefully of course welcoming partback on board because you know, being

(20:37):
back in the same time zone makesyou know, collaboration a lot easier.
So thank you once again and seeyou next time in peace.
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