Peter Thiel: belief

Transcript context

…Sorry, AI. AI specifically. How do you evaluate the efforts of places like Miami and Austin to present themselves as alternative tech hubs? And has that opinion changed over the course of the last two years? Well, I’m still very pro-Miami. I think the Miami story has been more of an anti-New York story. It’s a tale of two cities, and the finance part of the economy doesn’t have to be centered in New York. That alone, I think, explains a great deal of Miami’s success. I think the tech — again, somehow, we’re in a very different place from what people were focused on even two, two-and-a-half years ago, but two-and-a-half years ago, there was much more of a crypto story. Crypto is a decentralizing technology, but also the companies that were doing crypto were decentralized. Not just in the US — there’s a decent number of them outside the US. If crypto was going to be a big part of the future tech story, that would have been a naturally decentralizing from Silicon Valley narrative. Silicon Valley had really missed out on the crypto thing in a relative sense. Then consumer internet — a lot of this happened in Silicon Valley for all sorts of complicated reasons. It’s supposed to get rid of the tyranny of place, but it all happened in one place. Then the AI piece seems to be even more centralized in Silicon Valley. Again, if we say that the next decade or two decades are just going to be doubling down on AI, that probably suggests that San Francisco and Silicon Valley will maintain or even gain power. Thank you.…

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