Bret Taylor: belief

Transcript context

…It's so funny that there was a Silicon Valley wave of hype around chatbots. It was even earlier than that. It was like 2018. It was like pre-LLMs, pre-transformers. They were just multiple choice machines or something. It was just the worst products of all time. Replacing it with something that was delightful. People are like, "I'm going to talk to this thing a lot more." They ended up keeping... Their cost didn't really go down, but their volume of customer conversations went up 2 or 3X. The CEO was incredibly happy about it. They were like, "We're now actually listening to our clients." It sounds funny, but it's a little bit of a choice how much you want to drive cost savings with AI versus other metrics. Most of our clients are interested in the top-line metrics. Given if you could save $10 or save $1 and improve your net promoter score and competitive positioning by a meaningful amount, everyone in the world would choose the latter. That's the interesting thing going on right now because, again, going back to, it was in 1994, and we're talking websites on this podcast. I think if you were to go to a major bank and say, "If you launch a website, you're going to have a competitive advantage against every other bank. " With the benefit of hindsight, that would have been over-promising, the correct thing to say was, "If you don't launch a website…" Totally, you have to have a website.…

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