Dive into the parallels between today's AI hype and the late 90's tech bubble. Discover similarities, differences, and valuable lessons for smart investing. Explore how historical trends can guide us in making smarter investment decisions amidst the current AI craze. Episode Highlights: AI's transformative potential, economic disruptions, and cybersecurity risks, balancing its benefits with potential drawbacks. The true cost of technology, particularly AI and its impact on the job market, including potential job losses. Energy usage and carbon footprint of AI platforms like ChatGPT, alongside the resource requirements of electric vehicles and AI technology. The adverse impacts of technology on social behavior, productivity, and the risk of dependency, prompting the necessity for a 'tech detox.' The speed of market transactions, the shift to decimal stock prices, blockchain technology, and the environmental impact of AI and digital technology. SUBSCRIBE HERE! Looking for Personal Financial Advice? - Learn More Here TRANSCRIPT 00:00:00 What's the diminishing return, right? AI can do everything in 0.001 seconds, but we need to get it down to 0.0001 seconds. And you're like, what's the differentiator? Right now, if it has to fight another AI for something and it needs that speed, maybe, you know, military, something like that. This is for most of us. It's like, I can wait the one 100th of a second and I don't have to spend twice as much. 00:00:32 All right, that's the new music. It tells us we're going again. Welcome to the True Wealth radio show. I'm your host Dave Littlejohn. Matt's in the studio with me today. And we're currently setting up cameras and making sure that they are live because we are chatty and sometimes, we're a little slow on the uptake here, but we've got a very interesting show for you. And again, this is the greatest Tuesday you've had all week. 00:01:01 First, I'm just going to say this out loud. I think we're going to have to try to get different music, right? This is not a news program. This is like a financial entertainment program. Right? So we got to talk about money and we got to talk about it. Make it fun. Right. So we, this, that news thing, it just makes me all stressed out. 00:01:22 Well, it's not my favorite. Yeah. 00:01:25 All right. So Dale, we've officially put our vote in Kyle. We were officially voting. We're going to change the music for our program. You know why? 00:01:33 What's like if your life was a theme song, what would it be? 00:01:36 Oh, probably something goofy. It's not like-- 00:01:39 I had a tiger or something super cool. 00:01:41 No, no, that's cool. That I'm like, I'm not the cool guy. I'm firmly in dadland now. And so my life is a stream together of dad jokes and finance. Yeah. 00:01:57 In that order? 00:01:57 Yeah. Do you need me to, are you going to fight the microphone? 00:02:00 I am. 00:02:01 That's like literally just, you guys are going to have to watch the video of it later because it's going to look ridiculous. Like, what are you, are you arm wrestling the microphone? 00:02:10 I'm just going to give up for the segment and say, you know what? We'll fix it at the break. 00:21:16 Yeah. So anyway, we got to thinking today, what would be the most valuable thing that we can talk about? And I will tell you, I feel like I was chasing a curveball today. 00:02:28 Yeah, but. 00:02:29 Well, why? You know, cause yesterday was tax day, right? So tax freedom day, which I haven't checked the actual date. You know, there's a thing by the way, you know, there's a thing called tax freedom days. 00:02:37 You have to work in order to like start to break even. And it's like, you work for the first, what, three or four months. 00:02:43 It's usually really close. It's somewhere in early February.
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May 6 202445 mins