20VC: Bret Taylor: The AI Bubble and What Happens Now | How the Cost of Chips and Models Will Change in AI | Will Companies Build Their Own Software | Why Pre-Training is for Morons | Leaderships Lessons from Mark Zuckerberg

546.001 - 568.823 Bret Taylor

As you talked about the private equity surge over the past 20, 30 years. It doesn't surprise me that given the amount of capital available, valuations are sort of markedly different than they perhaps were, though I think it seemed excessive back then too, right? I don't think people could contemplate a trillion dollar company in 1998, rationally anyway. What you're saying is reasonable.