Episode Transcript
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Speaker 1 (00:00):
Let's move on to tech Tuesday. We're gonna have a
good time with that. And it all has to do
with you going broke, bankrupt and wanting to kill yourself
in a minute, Rich tomorrow, Good morning, Rich.
Speaker 2 (00:10):
When you set it up like that, we are going
to have some fun. You bet.
Speaker 1 (00:15):
I love death, I love diseases. And stock market is
down six hundred points, isn't it. So people have a
lot of stocks, including me, are looking at this and
I'm about to jump off of the our parking structure
and take a swan dive.
Speaker 2 (00:31):
But oh my gosh, don't do it. But bitcoin is
the same way bitcoin is. Bitcoin crashed yesterday, so it's
just a sign of the times with the markets right now.
Speaker 1 (00:40):
Okay, so let's talk about bitcoin crashing. I never thought
when bitcoin hit twenty thousand dollars, I said, this is insane.
It doesn't make sense because I remember when bitcoin was pennies.
Actually you could buy several bitcoin for a penny, and
then it went up and up and up. Twenty thousand dollars.
This is crazy, It doesn't make any sense. It hit
(01:00):
one hundred and twenty five thousand dollars and now it's
what ninety five thousand something like that. It dropped thirty percent.
What's going on with this?
Speaker 2 (01:09):
Yeah, so yeah, so yesterday it dipped below ninety thousand
for the first time in like six months. So that's
kind of a new recent low. But it's interesting because
and that's like you said, the recent high was one
twenty five. So people that are in bitcoin, they have
been just you know, all over the place these wild
swings in the past year. In fact, I think at
(01:30):
this point it's wiped out all of the earnings for
the year, all the gains for the year with the
price it's at right now. So that's you know, people
that have this going into the end of the year
the holidays are not very happy. So what's happening. You know,
people are uncertain the future rate cuts, People are worried
about that. They're not sure that's going to happen. Traders
are just in general more cautious getting rid of some
(01:51):
of their risky bets and bitcoin, you know, a lot
of people could be seen as risky, and so we're
going to follow this to what happens. It is the
first time in a while that we have a lot
of money flowing into bitcoin from like what's called institutional investors.
These are the big companies that you know, people do
their four to one k's and all that stuff, and
they put money into this, and a lot of that
(02:12):
money is vanished. One point two trillion dollars in crypto
value has vanished now since early October. So it's just
all over the place with this stuff, and we'll see
what happens. Some people thought it was going to go
to two hundred thousand by the end of the year.
That is looking unlikely. But what do I know, Bill, Yeah,
and I don't get it either.
Speaker 1 (02:31):
I mean, I've never understood I've never understood cryptocurrency ever.
But you know, go figure, I put a lot of
money on the table. If I had left a lot
of money on the table, if I had bought now
something that all of us understand, Amazon because so many
of us buy from Amazon. We certainly do. At my house,
I'm sitting at five packages that just came in yesterday
(02:53):
from Amazon. That's my wife, who's kind of crazy for that.
Amazon is now and you wrote this up is selling
used Fords in Lah Yeah, that's kind of new. And
then I assume that the Amazon guy delivers it and
puts it on your ports right.
Speaker 2 (03:10):
They do not do that just yet, so that would
be ideal. I know, major missed opportunity from Amazon. But
here's the thing. I think Amazon is trying to appease
the dealership network that is already in place. If you
look at the way cars are sold in America, most
of the time you have to go through a dealer
at the end of the day. I think Tesla and
I mean they might be the only direct auto seller
(03:33):
that I know of, But the rest, no matter how
you start it, whether you go online, whatever, you still
got to deal with someone. Now, if you're doing used
it's a little bit different. They've got outfits like Carvana
that will bring the car right to your house after
you purchase it. You can do most of the process online.
But anyway, Ford is the latest to team up with
Amazon Amazon Autos to let you shop for these certified
(03:55):
used Fords. So they're launching it in Los Angeles, Seattle,
and Dallas and basically he can go onto the Amazon website,
you can browse the listings from nearby dealers, complete almost
all of the paperwork online, and then you go to
the dealer and you buy it. So it takes away
that whole haggle part of the situation. Plus you get
a fourteen day warranty on it, and it's just you know,
(04:16):
Hyundai did this with Amazon a couple months ago, and
now they've got Ford. I see a world where why
would you not if you're a car dealer, why would
you not want to be in on this. I mean
you're losing a bit on the haggle because yeah, you're
doing the prices that are upfront, but at the same
time you're reaching a wider swath of the audience, and
the younger audience is probably more shopping online these days.
(04:36):
Even from that, you don't yeah, you.
Speaker 1 (04:38):
Don't see much haggling in the world. I mean other
than flea markets. I mean, you don't haggle at you
when you go to a clothing store, when you go
to the supermarket, and it's I kind of like the idea,
here's the price. I think CarMax does this. Here's your price,
thank you very much.
Speaker 2 (04:56):
Right.
Speaker 1 (04:57):
I love that that car vending machine that's off the
five Freeway where the cars are stacked up and you
press the button then they come, yeah, well I'm sorry,
that's carbon a carban, right, Yeah, And I was looking
the other day at someone getting one of those cars
and they were putting in thirty two thousand dollars worth
of quarters. Now it took a while.
Speaker 2 (05:17):
You got to go to the Yeah, that's that's too much.
You got to go to the store and they may
not have it. You know, you're like, hey, can you
break twenty? But Bill, I'm curious because you touched upon
something that really really bugs me because this whole car
haggling situation is a pain for most Americans because think
about it, the dealer is dealing with this every single
(05:37):
day they're haggling. They know exactly how to close the sale,
what to say, you go in there what once every
three years to seal a deal. How are we equipped
to deal with these dealerships where it's just so slick
and they've got their system down, you know, and every
single person is paying a different price for a car
in twenty twenty five, twenty twenty six. That just seems
absolutely insane to me.
Speaker 1 (05:57):
Yeah, anyway, and of course when you buy a car, oh,
let me bring my manager in here, and you'll give
you the best deal possible. And of course it is
the pressure and the it's professionals that know how to
close and you're waighing over your league. You're absolutely right. So,
by the way, do you see a future where haggling
is gone completely?
Speaker 2 (06:18):
Well, here's the deal. There are some people that really
like that process. So I think that, you know, there's
people that go in there thinking, Okay, I'm going to
get a deal, and they go in and they wait
for these sales, and they wait for the rebates, and
they wait for the end of the month. You know.
But at the same time, I think there's a large
swath of the world, these digital natives who are growing
(06:39):
up and every single thing they do is from their phone,
and every time Bill I know about me personally. When
I go on Amazon, I am much more tempered with
my shopping because guess what I'm seeing exactly a running
total of how much I'm spending, Versus when I go
into Target. I just throw things into my car. You know,
all the time, I have no idea how much I'm
spending by the time I get.
Speaker 1 (06:58):
To check out a toy concerns. It was only a
question of time before AI hit toys. So what's happening.
Speaker 2 (07:06):
Yeah, So this group us PERG found that AI power
toys might be the newest tech concern for parents, the
reason they're having inappropriate conversations with kids, including adult topics.
One toy offered advice about finding knives or matches, and
some of these toys actually discourage kids from playing with them,
(07:28):
looking sad as the kids walk away. So the bottom
line is, we already know that AI is all over
the place in terms of hallucinations and what it can
do and what it can't do. But when you put
it in a kid's toy, you just don't know how
these things are going to perform, even with the guardrails
that these companies put in place. So my advice and
(07:48):
I would think that this report sort of echoes that
is that AI toys might not be ready for prime
time just yet. It's probably better to get something that's
a little bit more proven. If your device has an
Internet connection, might not be the best thing for your
young child.
Speaker 1 (08:04):
Yeah, but today, how can you other than link and
logs or cabbage well even a cabbage patch now or
it's equivalent, has to be connected to AI, because how
do you compete with toys that aren't connected or those
that are not connected? How do they compete?
Speaker 2 (08:22):
Yeah, I think that's the issue here is that number one,
kids are already on a toy that is very much
connected and very much can access pretty much anything on
the internet, the iPad or their phone. But I think
the difference here is that because it's marketed as a
toy for children, they are going to be talking to
this toy as if it was a friend. And if
(08:44):
this toy starts going off the rails and asking inappropriate
things or talking about inappropriate things, which by the way,
AI can do, especially during long sessions. We know that
when you talk to AI for a long time, it
sometimes goes a little crazy. And so I think that
these kids spending a lot of time with these toys,
that's when they have the potential issues involved in AI
(09:06):
and hallucinations and just going off the rails here.
Speaker 1 (09:09):
And I'm assuming the technology and AI cannot concern it
cannot discern if it's a kid that's talking or that's
speaking to the program the platform, or what age that
kid is. I mean, there's some questions that could be asked,
But does that technology exist?
Speaker 2 (09:30):
I mean, I don't, I don't. I mean, I'm sure
you could. You know, you can set guardrails for the
AI bot to you know, talk about topics that are
appropriate for a child. But the problem is, you know,
if these kids say something and the AI misconstrues it,
you know, and it brings up a totally different topic,
then it goes down that line. So we just don't know.
I think there's just not enough right now in place,
(09:51):
Like just regular AI for adults, you know, can be
all over the place, and so I think when it
comes to specifically toys for kids, it's probably not something
that is proven just yet, especially because these all have
AI models that are basically from one of the big
providers that these toy companies have sort of rewritten a
(10:12):
little bit to match a child's preferences in child's topics.
So I think that it's just as catchy and fun
as they may be to have a stuffed animal or
a bear that might talk to your child with AI,
it's probably not the best time right now for that
kind of stuff.
Speaker 1 (10:26):
All right, Rich, Thanks Michael. Catch you next Tuesday and
this Saturday eleven to two right here on KFI KTLA
every day and Instagram at rich on Tech website, rich
on tech dot TV with some great information. Rich, you
have a good one. Take care of my friend.
Speaker 2 (10:43):
Thanks Bill,