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i hahave twtwo guest.t. charissese is a seririal entreprereneur and d author ofo new w businessss book, , winner alall. a stududy in how ononline marketplaces are monopolilies a jason delray, a reporter has a similarly titled book called winner sells all. amazon, walmart and the battle for our wallets. jason, let's start with you. let meme start with this. if e-commerce were invented today, all my money would be on walmarart, right,t, my choices yoyou bet onon wawalmart whwhic all of these logiststics anand trucks oror you bet t on some ininvestment makeker namemed j cells. 100 would been on walmarart but would haveve bebeen wrwrong. >> yoyou would haveve been wro for a lolong period of time.

clasassic innonovators didilemm ststudy. ththe one of the greatetest of titime in ththat walmlmart for years either was ignoring the future of retail taking place online or just couldn't come to dedeal with the trade-e-offs t theyey would hahave to take in their business in order to be succccessful gogoing up against amazon and amazon sesector. >> if you are walmart regional manager like in charge of all the california stores got you would be very worried about an online presence because logically sales in stores would fall if sales online were successful? >> that's right. that was a big issue. not only was it the fear and reasonable fear of onliline cacannibalizining in-storore sa and in-ststore profitits, but a overer the years as wawalmart

starteted to alallow fofor pick ststores if you order r it onl ththen there'e's debates s abou gets crcredit for r the sales. it is a compmplicated sisituat and one wawalmart really struggggled to wrwrap their r h around for a veryry long time >> it's's easy toto point at al ththe things walmart did wrono let's flflip it, didid walmart ananything riright that amazon wrong? >> we arare looking g at amazon todaday really strugglingng to fifigure out t their physicalal retailil world anand despite e varyining efforts s and so i i walmlmart was vevery focusesed making sure theyey could keep prices down in theieir susupercentersrs while still ma a profitit and ththen also evenentually ininvesting inin o orordering anand picking g up a store.e. that has becomeme a lucratativ businessss for walmarart and on

that i i think amamazon isis pr enviouous of as we see shippip fees contntinue to rise and lab costs cocontinue toto rise. >> there's a a lot of talklk amazon. . i don't t think we can propere cacall it a a monopoly but mon like, , as far r as e-commerce goes. . but we have provoven over and overer that ththe big player doesesn't remainin the big g pl forerever. i i was in iowa in ththe 1980s whicich walmart t devastateded - town econonomies. and we ththought hersrself got nothing cocould ever replace e bebehemoth ththat is wawalmart. of coursese now it is amazonon is therere somethining out ther ththat could d replace amamazon > i wouldn't be susurprised if yoyou look atat retatail his sesears, veryry dominantnt for period ofof time. walmart very dominanant for a long titime periodod. targetet with susuccess and ama ononline veryry dominantnt for

period of time. . history y will tellll us thatat someththing else is on ththe horizozon. whetether it's five or 10 or yeyears fromom now.w. and i thinink ththat's a a gogo for ininnovation and good for consumers s and hopefufully goo for emplployees. what thatat is todaday, ththere fefew players s that maybe coul ththat are hohovering araround making ththeir way ininto diffe parts of the commerce world. i ththink chapa a fica the e c tetechnology company. there is tiktokok which h we th of as a video o app but really have theieir eyes seset on inro into commmmerce or maybe quiti possibly it's a cocompany that doesn't eveven exist t today ye and d my hope is ththat wewe t ababout otother cocompanies 101 years frfrom now. >> one e of the thingsgs that b wawalmart and d amazon isis get involvlved in isis healthcacare i susuppose therere's a lot t o moneney in healalthcare. it seems s like compmpletely

outsidide of theieir areas ofof expepertise. >> bothth companieies reallyly they can make a better expeperience fofor everery date peopople if they innovavate in healalthcare. walmart, you u knknow, theyey had a longng historory in the e pharmacy space. i chroniclcled in the e bookok competetition for r an onlinene pharmamacy startutup between n two o companies s that endsds u gogoing amazon's way. but t they are e trying ththeir in otother ways. . walmart health clinics. amazazon obviouously acquiririn billion-dodollar, essesentially primary cacare chain n of docto officeces in virtrtual cacare. amazonon, when ththey see fragmenteded space, incumbents that have someme sortrt of dis for consumers s and marginin, y know, , they willll try theieir at it. it's's an incredibibly unwelclc spspace to newcomomers but from

rereporting, i am confnfident eaeach is cocommitted toto at l giving it a rereal gogo ovover next few w years s wiwith seser invevestments. >> laststly i wantnt to poinint anand i don't t know if yoyou k thisis or not.t. your bobook onon amamazon is the hahardcover anand is 24.3.3 walmlmart.calm walmart.cocom. >> i noticed d that rerecently and listst they have didifferen pricing g in differerent parts the countrtry, they were the e pricice for a whwhile. but i did findnd out recentlyly haveve not talklked to ththe wa or amamazon folklks about ththa >> of cocourse if the book rir awayay, gogo to wawalmart onlil then pipick it upup at the stor alall right, jason, i i apprec you bebeing with us thisis mor jason isis the offificer is the auauthor of winnnner selllls a >> charisisse look at is more

academic. when we look at how walmart -- it's like the chicken and egg thing. like an online dating service would deal with. you need customers in order to draw in all of the business but then again, just like dating, if they are nonot therere, nobo wiwill come. . you got t a chicken n and egg g problem m if you trtry to compe withth amazon and becomeme the amazon. >> that's right. marketplplaces likeke amazonon realally hard to get ofoff the ground because ofof the chicic oror egg proboblem. bubut once yoyou solve for it a yoyou have crcritical mamass of consumumers and susuppliers whw amamazon didid, then network effects again and it's a virtuaual cycle. more susupplies cocome in bebec ththere are coconsumers anand m consumers s coming bebecause th are momore suppliliers and soso walmart hahad a problelem that were stararting latete and d l

at them today, they hahave onon 10thth the numbmber of susuppli that amazazon has. >> and also in a way, it's vev desisirable as a a coconsumer somethining that isis essentiai monopoly like amazazon becausu knowow i can gogo on amazonon, the prproduct i amam lookoking mamatter how w ridiculoususly s it mighght be and get it at a reasonablele price anand get it probablyly tomorrowow. >> ababsolutely. . in factct today amazon is a a threreat to google because in olold days yoyou would gogo on toto search for a product t an then select frfrom the chchoic presented d but today, most consumumers, includining myself go didirectly toto amazon and for prproducts. and you arare right. i hahave typed in some strarang rerequest and d there's ususual product t out t therere ththat

needs. >> do you foresesee a day in whwhich amazonon says, okokay, big enoughgh now and d it's bee unrealalistic for r us to sesen ththis to dodollar nailil clip overnighght and delilivered to hohouse for no money.y. now w is where e we will start chararging becacause we hahave dominancnce and the e whole thi chananges? > i think k you sesee hihigh prices inin ththe fufuture. in a numbmber of differerent wa one is amamazon primime whwhich reallyly locks yoyou in, as yo knknow. becacause essentntially you thi of shippiping as free. ththey have been slowowly incrcreasing the pricining for amazon prprime over the years theyey will cocontinue toto dod in ththe future especiallyly a ththey add momore servicices to or ththey may tatake away featu let't's talk about amazon prime videdeo, for examample now. introducucing advertrtising. when you u watctch amazonon pri

video. and thenen you haveve to pay ex to get t the ad frfree experir anand then theyey have thoughts ththat scour r the internrnet t out what is the e best price therere. and d they willll try to match price if it's a prominent t retailerer. but ifif it's nonot a prpromine retailerer, then more likely t willll charge a higher price. i thinink you see e higher pri in the fufuture. > and finanally do yoyou eve someonone ununseating amamazon. back inin the daysys whenen we worrrried that barnes & nonob tataking overer the bookok syst the smsmall bookststores werere away, we couldn't imagine tht anyoyone would d ever replplace barnrnes & noble e but it was replaced by amazon. you u see a day y inin whicich back atat amazon anand sasay m theyey never sasaw it comingng. >> itit is possibible. in the future. a lolot of kidsds thesese days

titiktok and tiktokok makes s i for retaililers to showow thth wares. in an interestining and engaga fafashion. it is popossible for fashion ty ofof retail, , that a lolot of shoppiping could d take placace titiktok or instagram m in the fututure and ththen you have v comiming in ththe next 5-10 yey and that would d tranansform t wholole experienence. so it's onlyly through h what callll technolology shiftsts. new technolologies emererging t yoyou have a a chance ofof didi someonone like amamazon. bubut probablyly in spececific sesectors. i don't sesee amazon as a whol would d disappear.r. like fashion anand so forth, mamay have other retailerers shshining througugh. > the author of winner takes all, i appreciate you joining us this morning and press: here

will be right back.

>> welcome e back to press: here. ththe men and d women at ottet shshowed us somethining cool. otter r cells transgreression a transcscription sosoftware. they trananscribe ththe converersation toto make itit e to pickck out the e soundbitese want. i have bebeen using g it for ye here isis the e coolol new thth usining artifificial intetellig to summaririze those transcript the e programmerers sent meme a examplple from mymy own telelev interview w with a scientntist named thomomas swallolow. in the right-t-hand margrgin t you can n see someone e can ask is beining intervieiewed. whwhat is ththe conversasation and whwhat are ththe main point basesed on the e transcriptpt t shows eveverything that swalal talklks about.

sam lelen is ththe ceceo of otter.a.a.i. the e killer isis avoidingng th memeeting altotogether. if i can n run througugh the trananscript onon otter anand a buncnch of quesestions i find all the e things i i need to kn and d i don't neneed to be bo down wiwith the acactual meetet > thank yoyou for hahaving m good to see yoyou again, scot yeyes. you u mentntioned otteter piono the use e of a.i. toto scrantonon transcriribe meetetings. so far r we have transcribebed 1 1 billion memeetings. that is a lot of talkining. a lolot of the researchch shsho that woworkers spend 30% % of time in all kikinds of meetini for meme, as ceo o and founder starartup, i tatalk toto cucust and dodoing intervrviews all l time. i can easisily have 30 or 40 hours of this. . so we want to use e a.i.i.

to makeke people more producti anand reduce their meeting g fatitigue. > it's exextraordinarary to it becaususe it realally does up on hehere arare the pointst everyonene hit thatat are impop and got repepeat. herere maybe isis the concnclus whwhat we dedecided and d then cacan send ththat summarary to whoevever is on the calelendar here is what we talked about and hehere is whwhat wewe agrer >> yes, it can eaeasily share summmmary and yoyou can easisil shshare the action itemems with your cocolleague or even send email toto otter guests and fof public interviewsws, you can n always share itit onon social nenetworks. everybody y is crazy about chatgpgpt but it's chat bt onl has popop-up inteternet knowowl you cannotot ask chchatgpt abou

yourur own inteterviews oror ow meetinings. >> sam, how w are you trtraini your a.i.i. you mementioned you transcscrib billioion hours woworth of conversasations or memeetings. but you u are not t usining tha teach yourur a.i., riright, bec those meetetings arare prprivat >> that's's corrrrect, howeweve of our users,s, when they do publicic inteterviews oror when recordrd a panel discusussion, contriribute thatat to us so have millions ofof hohours of contntributed whwhich we cacan traiain our modedel. >> sam, thininking likeke 10 y down ththe road or whatatnot, would hahave this incrededible popowered archchive of alall th meetetings thatat we had had in partrticular cocompany it so t if we wewent into a a prproblem could acactually ask a.i.

, have we ever dealt with thi before anand a.i. would say y yes, in march ofof got yoyou ran intoto a similala problem anand here's what you decicided to dodo about itit. ththat would d be incrcredibly powerfulul. >> itit is actutually not t far it won'n't take fifive years s there. we willll release e a producuct thisis year toto do just that. not onlyly can it answerer any questitions about meetings in your enteterprises bubut itit k ththe history y and how opinioi evolve. . what didid the ceo say? whwhat did ththe vp of sasales about certain products? you know, the vp engineering or the designers, what did they say? so it's also tied to a specific speaker. >> and a create institutional knowledge in a box. and then fast forwarding again, there's a theory in my head

that if you know what the ceo said over the course of 10 years, you could almost make the a.i. answer the way the ceo did. the ceo could send the a.i. to the meeting. >> exactly. this is what we aim to do to build up the pilot that can represent any person it can represent any designer or manager or ceo and the weekly sales. when, for example, you are busy and double booked for three meetings at the same time, you can send otter pilot to the other two meetings to represent you. and the other pilot can answer most questions on your behalf because it has all of your knowledge in the last five years. only when it is facing a really complicated question and then cannotot answer then it would cocome back to you and say heh scott, i don't knknow how w to answerer this cacan you helplp

soso it reveverses the e model. righght now i tatalk to you and when we have a question we as chatatgpt to hehelp. but in ththe future maybe my otter pilolot just tatalk to yo otter pilolot in a one-e-on-one meetining. and d it only brbrings meme wh needs mymy help. >> that is compleletely insasa and d i love it. . sam, ththe ceo of otter. it's nicece to see e you again. and presess: here would be ri back.

welclcome back to press:s: here. . final ththis mornining we talkl lolot in the e past few w weeks how ststudents arare using a.a. for good or for ill. but teteachers arare using itit wewell. and it's easy. lelet me giveve you anan exampl if i i were a fififth-grade e t i would asask a.i., write a lelesson planan on the e fifth

levevel about refracaction and reflflection ofof light. include e ideas for r experimen that could be conducted d in classroom.m. and ththe a.i., i'i'm using chc in this case, , and it turns s ththe whole ththing from introducuction to experienence ususing everydyday objectcts to summarary. therere is a whwhole mamarket o there for r teachers of a.i. and he isis the ceo o ofof berl mimind and bebefore thatat was ofof solutionons for ibm m wats learnining. gogood mornining. watstson, everyoyone is fafamil with thatat. thatat's the mamachine thatat b ken jennnnings on jeopardy, , right? >> yes. ththank you fofor having me. indeed, watstson was s one of t mind stororms ofof a.i. inin 2011. the e first geneneration of a system that could understandnd very cocomplex human languagege jeoparardy clues s are full of allulusions and d the e pondnds on and d puzzles anand you have ununpack themem and theyey basi get a respononse inin lessss th three e seconds.

and watstson was ththe first la- scalale demonstrtration of a s that cocould do it. it was s a huge moment onon jeopopardy nai.i. >> cocongratulatitions on yoyou it's amamazing and d i realize i i signgn ontoto chatatgpt the computer somewhere e doing the calcululations. but it's extraordininary that wentnt from ththis gianant blac to my phone. my phone e can do this nonow go >> in the third d in fact the last decacade has bebeen an enorormous decacade in ththe hi of abab. the momoment afteter developmpm soso it's onone of those things where e there's a a whole bubun ththings happppening in the backgrouound and susuddenly tht all l start to come togegether wewe have a a huge momement of explosion n wherere a.i.i. suddenly is capapable of ded understatanding humaman languag and itit's fafar leless thanan ofof yore. it's exciciting timeme for us. >> i demonstratated how i could createte a fifth-h-grade scieie lesssson plan. . to be clear, i'i'm not a tetea but t i was imprpressed withth chat gpgpt came upup with. .

vevery complelete and ininstruc shshine a flasashlight toto the objeject and obobserve whatat h alike. asked ththem to dedescribe thth changeges in lighght directioio thisis looks lilike a teacacher lelesson planan to me. . that wawas free fofor me. but you u want to create this ininto a busineness. why woululdn't the e teacher ju use chatgpt? >> a greaeat ququestion. so educatation is onone of thos endeavors s where the e sanctit informatioion is enorormously importrtant. soso there arare several l issu where usining some ofof these w theyey call generalsls modelsls anand they tetend to hallucinat makeke up ininformation.n. some of the e opening g itsel cautioions about t the ususer o inin hihigh-stakakes situatioio hehealthcare and ededucation. anand so in education n you re can't t afford toto be wronong. you can't afford some of ththe

risk announceces that the mode gegenerates byby making stuff in addition, , safety ofof interactioion within the model privacacy and all l these adadditional things arare huge importanant. but t the most importrtant asp of getting toto ususe generate a.i. in the e context ofof teachingn learning, , is that school districts s and teachehers spen nunumerous amamount of time chchoosing the cocontent onon w they want to opererate on. . so we want to enable our languauage modelsls to actually alallow the teteachers toto use own contntent. soso every sisingle modedel has inin the contntext of the tetea own n chchosen cocontent. >> i i understandnd ththat yes, will depepend on ththe date of teacheher wants itit to see e b you u have a long language mod here, itit has to get training from somewhere.e. so whwhere did your overalall comeme from? ? > that's a great question. ththe great ththing about t it that you u can train n modelsls

high elecectric soururces and w yoyou train ththem out toto do understandnd languauage. understandnd the ruleles of lalanguage and undersrstand the foformal grammmmar. . ununderst to convererse deeplyly and naturalllly with huhuman beings that is all how we use the prpretraining g informatioion f you want to pre-trtrain it on wikipedidia and all l the dadatabases. the mostst important t thing is do this is to teacach a langu and how toto coconverse anand convnverse withth human bebeing onon top ofof ththat, ththey ar it a bubunch of instructctions then we are sasaying to it, , a teacacher or ststudent intete with yoyou, drdraw onon ththe c material that the scschool distririct thinksks is safefe o teacher r thinks isis safe. that's a a hugege diststinction one of the attribibutes of th approaoach is wewe basically y prpractically y eliminate e hallucininations whwhich is ono

prproblem sidede. and wewe also ensurere that th responses s are highlyly aligne whateverer it is that isis trt to be teach. >> fiveve yearars and d now we all gigglele there wawas a time whicich teachersrs didn't use >> i cocompletely agree. this is been in the last year or two has been transformative. >> yes it has, indeed. the ceo of marlon mike. i appreciate you joining us this morning and press: here will be right back.

that's our show for this week. my thanksks to my guest and d you for r making asas part of y sundnday mornining.

damian trujillo: hello, and welcome to "comunidad del valle." i'm damian trujillo, and today, a fiesta at the presidio on your "comunidad del valle." [music] damian: we're joined with a great opportunity for students at liberty high school in brentwood. we're joined by a bunch of folks out there, that part of the bay area. with us is elizabeth cruz gonzalez and officer exiquio zepeda, of brentwood pd, and a bunch of students back there.