like the only way to find these opportunities and learn about them is to find weirdos on the internet that are also into this thing yes and they're figuring it out too and you can kind of compare notes yes and this is how new Industries are created literally by weirdos on the internet like like literally literally this is Dalton P Michael and today we're going to talk about why AI is going to create more successful Founders in the world it's interesting as we've gotten older oh sad we kind of see a new set of tools come into the market and then an explosion in the number of Founders who can now create value and we've seen this before right like what was the first time you saw this I certainly noticed when the internet was new people that knew how to build websites were suddenly able to make lots of money from the skill and it was like really basic stuff high school kids were making tons of money yep I remember people that could just figure out how to sell stuff on eBay where you would go buy something cheap but then listed on eBay and Arbitrage yep basically you would see people that kind of understood the new tooling that came out and would like do a hustle and make ungodly amounts of money yeah and it was just because they understood the new tools and I it wasn't even a hustle like it was a good business like like it was they saw that tools enabled new businesses you know we saw this um you know Talent of the open source um world where like we could build all of Justin t TV with free software yep and then we were there in the beginning of cloud compute where we didn't have to Rack servers anymore any kid could sign up for an Amazon account put a couple bucks down and get access to a server and so what's interesting is that we might I think we feel pretty good about saying this um we might be on the cost of the next one of these and that means there are maybe a whole bunch of new opportunities for successful businesses to be created yeah starting now yeah here's another metaphor when the iPhone came out who would have thought that Flappy Bird would have been created and I think I read that that guy made like 20 million in cash boom in like two months and then shut it down and so if you watch okay iPhone Steve Jobs on stage some guy in Southeast Asia building Flappy Bird that's like wild never would have guessed gued again to be very direct what we're arguing is that when brand new technologies come out that are that are powerful the the people that are on the cusp of understanding them yeah and that quickly build businesses or build useful things using those tools have in a very unique view of creating businesses and wealth and again to be on the nose for for AI it seems like you could do things that would require way more headcount than you would otherwise yes and so yeah we're not even say say we know the ideas no we're just saying if you're watching this and you're interested in being a Founder maybe not working at a company yeah and you just pay attention to every new thing that comes out and try to find these opportunities or I don't know Arbitrage is the right word but no just New Opportunities New Opportunities using these Cutting Edge tools and you're on the bleeding edge there's no you're not competing with anyone no it's Green Field I think what's cool is anytime one of these Technologies shifts happens the cost of starting a business some set of businesses reduces by up to like 10x yep and so suddenly businesses that either wouldn't have made sense or certainly a normal person couldn't just stand up and do right like can you imagine just oh it's pre- online selling in eBay all you have to do is rent a storefront run a store right like that's that's cheap right like absolutely not um or like pre Airbnb like all you have to do is just like buy a house and set up your own airbed and breakfast bed and breakfast thing or even buy a hotel yeah that's crazy whereas like Airbnb you can rent a room your own place if you saw Airbnb early and you just decided to be a host and be like oh I should like do this as a business you real money yeah when Shopify was a brand new thing like all these platforms exactly the people that were the first to recognize that these were gave them leverage yes those entrepreneurial-minded people did really well yes and so I think what's so cool is that what we're saying is like if you're ambitious and you're paying attention you might not ever need to work at a big company you might not ever need to have a boss like you can be in control of your own destiny and these moments don't happen every week no like we wish we did it but like when they do the people who move I mean this is a very specific example yeah but what not the online live shopping thing I still talk to the founders a lot and they have I think like high school aged kids selling stuff on there money and making just again I don't want to say the numbers but they figured out the format they understand how to use whatnot they built a user base there and they're basically they're killing it they're they're making enough money for their to set themselves up for their entire life Yeah by just see this new platform figuring it out and then making a bet on it I mean this happened with twitch happens with twitch whole new industry basically yeah no I think that what's cool is that we're also talking about every scale right we're talking about things that can be venture-backed maybe billion dollar companies one day but we're also talking about things that can just set you up so that you can pay your rent and live a good life yep the opportunities are across the entire spectrum and I think that's what's really cool about new technology like when there's a real technology shift it affects businesses across the board it's we're not just talking about companies that YC would even fund I think that um the last point I'd want to make on this front is that you don't get this opportunity if you're just thinking you got to actually do well and they won't teach you this in schools schools teach you stuff for 10 or 20 years ago so the other thing that I've noticed in these Trends is that when you are part of the history being made and you're this early on The Cutting Edge of a new tech coming out you can't expect your University or your teachers or peers people in your community or your peers to teach you about it it's only basically weirdos on the internet yes yes like the only way to find these opportunities and learn about them is to find weirdos on the internet that are also into this thing yes and they're figuring it out too and you can kind of compare notes yes and this is how new Industries are created literally by weirdos on the internet like like literally literally there's like some subreddit with a bunch of weirdos and like someday from now you know 10 years from now there'll be an entire industry of people that learned about this thing in some subred somewhere there yeah no I totally agree so hey the big takeaway is if you've been wrestling your lawyers if if you thought oh this isn't the time to start a new business maybe you should reconsider this is a very interesting time I think the final argument is there's a good case where a smaller percentage of the population will need to get jobs and more people will be able to use tools like this to be self-employed in some way I don't think there's any I think all the structural changes imply that more folks will just yes use their highly leveraged selves using all these tools to run businesses then have to go get a job yeah right and I think that story is in tolded right I think the story is always this kind of depressing story of like oh maybe you won't need it you won't be needed anymore as opposed to here's a set of tools you could do things that people couldn't think of doing affordably before Like You Could Be Your Own Boss you even need to be inside of a company to create value yeah so anyways hopefully that's inspiring good chat thanks