Parliamo Dello Scandalo Di Nvidia — Transcript

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1. 0:06This is the Hamlet-like dilemma that
2. 0:08Jensen Huang, the founder of Nvidia, one
3. 0:10of the most mega cosmic companies in the
4. 0:12universe and the galaxy, found himself
5. 0:14facing at one point.
6. 0:16He sat in the dark of his room and
7. 0:18started to think.
8. 0:20I have a chance to get some action after
9. 0:2241 years of marriage, but on the other
10. 0:24hand, there's a risk.
11. 0:26I have a company here that's worth
12. 0:27gazillions.
13. 0:29I am wealthy beyond belief.
14. 0:31I have an incredible reputation.
15. 0:34Personally, I've never read anything
16. 0:36negative about Jensen Huang in 25 years
17. 0:38.
18. 0:39Never.
19. 0:40Admired, idolized, super respected in
20. 0:43his leather jacket,
21. 0:47Jensen Huang is a god.
22. 0:48In this situation, we at Nvidia are also
23. 0:51the masters of the universe. We have the
24. 0:53mega CPUs, GPUs,
25. 0:58chips against chips that no one in the
26. 1:00world is able to replicate.
27. 1:02We are the strongest on the planet. I,
28. 1:04Jensen Huang, know everyone.
29. 1:08I am at the top, resoundingly at the top
30. 1:10of any statistic you can put in front of
31. 1:13me, and all of this, if I get that
32. 1:14action, I lose it.
33. 1:18Okay? So Jensen is there, imagine him,
34. 1:20in the dark of his room, thinking this
35. 1:22through. So he sits there, thinks,
36. 1:24thinks, thinks, thinks. I imagine he
37. 1:26then brings out his army of AI agents to
38. 1:28say, "What would you do?" Would you get
39. 1:30that action, yes or no? But look, you
40. 1:32lose everything on this side, you know?
41. 1:34Okay, think, think. In the end, he
42. 1:36stands in front of the mirror, leather
43. 1:38jacket on.
44. 1:39He goes for it.
45. 1:43But you understand that this is a world
46. 1:45you can no longer explain.
47. 1:47I watch science fiction movies now to
48. 1:49try and get some sense of reality.
49. 1:52I can't believe the rest anymore, I just
50. 1:54can't.
51. 1:56And that is what happened.
52. 1:58Not only with an alleged Chinese spy,
53. 2:00alleged, no one ever proved it, but also
54. 2:03with an employee, a direct collaborator
55. 2:05, a direct report.
56. 2:07And so you understand that faced with
57. 2:09this situation, on one hand, I agree
58. 2:11with you, it's easy to laugh about it,
59. 2:12let's mess around, because otherwise
60. 2:14what do you want me to tell you? Should
61. 2:16I give you a serious analysis of
62. 2:18Jensen's hookup? I don't know, you tell
63. 2:20me.
64. 2:20I didn't expect it, it even saddened me
65. 2:23a bit because Jensen is super respected
66. 2:25, but on the other hand, everyone makes
67. 2:27mistakes, we are human. Get it? Everyone
68. 2:29talks about how AI will destroy us all,
69. 2:31but what will destroy us?
70. 2:35We are cosmic idiots, especially the
71. 2:38human male, we are just, ah, desperate,
72. 2:40but basic, below -52 on the human
73. 2:43evolution scale, get it?
74. 2:47All it takes is a little temptation and
75. 2:49a guy just throws all of this away. Oh
76. 2:50yeah, whatever, I’ll just get laid, who
77. 2:53gives a damn. I mean, I really don't
78. 2:55know.
79. 2:56Anyway, in this situation, best of luck
80. 2:58to all the people involved in this
81. 3:00affair; these are always such unpleasant
82. 3:02situations, right?
83. 3:05To see them, um, aired out in public
84. 3:07like this, but let's focus on the
85. 3:09consequences of this affair, and there
86. 3:10are some fundamental ones.
87. 3:13What happens to Nvidia, what happens to
88. 3:15Jensen Huang?
89. 3:18He is, after all, the CEO and founder of
90. 3:20Nvidia, and he's been with the company
91. 3:22for over thirty years—not just a day—
92. 3:24it's a long, long management of this
93. 3:26entity, and he's led it to this massive
94. 3:29success.
95. 3:31There's a US-China geopolitical problem
96. 3:33with security issues. In short, it's a
97. 3:35tricky little situation that creates
98. 3:37problems, and there's also a market
99. 3:39situation. So, let's start with Nvidia.
100. 3:42The company is worth gazillions, number
101. 3:44one.
102. 3:45It's a company that brings in 250
103. 3:47billion a year and is still growing.
104. 3:50I mean, what can you say about a company
105. 3:52like that? Nothing. Hats off, they’re
106. 3:54geniuses, brilliant, he’s brilliant, the
107. 3:56team is brilliant, a phenomenon. Does it
108. 3:58crash on the stock market? Obviously it
109. 4:00crashes on the market in the face of
110. 4:02news like this, because he has to resign
111. 4:04, and so it's not like this is news that
112. 4:06makes people say, "Oh, how cool."
113. 4:09Will a company like this have problems
114. 4:11moving forward or doing its business?
115. 4:13I guarantee it still brings home the
116. 4:15bacon.
117. 4:17So, it's certainly not a good moment,
118. 4:19there is, you know, the stock market hit
119. 4:21, but it's still a super healthy company
120. 4:24, super growing, super sound.
121. 4:28The question one asks is: the moment
122. 4:30Jensen leaves the company, since he was
123. 4:32the face but also the day-to-day engine
124. 4:34, someone really on top of the company,
125. 4:36what is the impact?
126. 4:39Because when Steve Jobs left Apple in
127. 4:41the beginning, the impact was disastrous
128. 4:43. Then one might say, "Yeah, but when
129. 4:45Steve passed away, Tim Cook still did
130. 4:47the business just the same; actually, he
131. 4:49grew Apple to clamorous levels."
132. 4:54Yeah, but what you lose, Apple-style if
133. 4:56we take that example, is that if you
134. 4:58don't have the crazy-ass founder with
135. 5:00the vision, the company keeps going, you
136. 5:02bring in super-smart managers, they make
137. 5:04profits, they milk the cow, but you
138. 5:06don't necessarily stay at the top of
139. 5:08your game and keep inventing and
140. 5:09revolutionizing.
141. 5:15Tim lacks that very energy, that
142. 5:16lifeblood that the founder provides, a
143. 5:18bit like taking Elon Musk out of Tesla
144. 5:20and SpaceX; the companies won't close,
145. 5:22they'll carry on and make money, but
146. 5:24they lose that streak of creative
147. 5:26madness that sparks revolutions,
148. 5:28constructively speaking.
149. 5:31This is Nvidia's situation, so what will
150. 5:33happen, from my point of view, is the
151. 5:35company continues regardless of this
152. 5:37scandal, the "Jensen Gate."
153. 5:39Number two, what happens to him?
154. 5:42Well, he certainly has a few bucks to
155. 5:44pay for pizza and the mortgage.
156. 5:49Obviously, if they decide to divorce—
157. 5:51but that’s their relationship problem,
158. 5:53he and his wife met in college, an
159. 5:55incredible story—it would obviously be
160. 5:57the most expensive divorce in history,
161. 5:59costing him about eighty billion for
162. 6:00this little joyride, just pointing that
163. 6:03out.
164. 6:05I took a look, but that’s their business
165. 6:07.
166. 6:09However, professionally speaking, the
167. 6:11Jensen problem doesn't exist, because he
168. 6:13is in a league of his own.
169. 6:17He’ll do something somewhere. Hypothesis
170. 6:19A, he does nothing, plays chess, comes
171. 6:21to Brighton to play on the promenade,
172. 6:23which is also possible. Maybe, I took a
173. 6:25look this morning. Jensen, I'm coming,
174. 6:28I'm coming to play the Queen's Gambit, I
175. 6:30don't know what he plays.
176. 6:32Hypothesis two, after the scandal blows
177. 6:34over, he returns to Nvidia and off we go
178. 6:37, Jobs style. Number three, the next
179. 6:39Elon calls him and says, "Jensen, come
180. 6:41on, let's work together, let's change
181. 6:43the world," and he does whatever he
182. 6:45wants, you know? Basically.
183. 6:47He'll have this moment of limbo, but
184. 6:49he's not someone who will have any
185. 6:51problems, really. When people say, "
186. 6:52Here, the collapse, the end of Jensen
187. 6:54Huang." The hell with the end of Jensen
188. 6:56Huang, he's someone who doesn't know
189. 6:58where to put his money, super capable,
190. 7:00super talented.
191. 7:05Number three, the security issue, the
192. 7:07geopolitical issue between China and the
193. 7:09US, because the main problem, the
194. 7:10concern behind this affair, stems from
195. 7:12the assumption that his extramarital
196. 7:14affair was with a Chinese spy.
197. 7:19It's assumed, nobody has proven it yet.
198. 7:25And so the question one asks is, if this
199. 7:27Chinese spy, while they were under the
200. 7:29sheets and Jensen was at the peak of
201. 7:31cosmic euphoria, asked him at that very
202. 7:33moment, "Yes, but Jensen, wait, tell me
203. 7:36for a second if the nanometer of the new
204. 7:38GPU is yellow or green."
205. 7:43He said yellow.
206. 7:46Pam, she wrote it down, sent it off to
207. 7:48Beijing, tipped them off, and then while
208. 7:50Jensen was snoring away in his slippers
209. 7:52, she went to swipe that USB drive from
210. 7:54the drawer with Nvidia's secrets for the
211. 7:56next 10 years.
212. 8:00It’s clear that at that point, China,
213. 8:02which isn't doing badly with AI,
214. 8:04development, and tech, gains, let’s say
215. 8:06, an extra gear to accelerate and
216. 8:08dominate the world before the United
217. 8:10States.
218. 8:13That's the basic idea.
219. 8:16Is it an element that, from my
220. 8:17perspective, makes all the difference in
221. 8:19the world?
222. 8:21No, because what it can do is simply
223. 8:23shorten the timelines; it's not like
224. 8:24China is standing still living in the
225. 8:26Middle Ages.
226. 8:28People still think that today. There are
227. 8:29folks who say, "Oh, the Chinese just
228. 8:31copy anyway." But it’s not true that
229. 8:33they just copy.
230. 8:34They have billions of researchers,
231. 8:36developers, and companies.
232. 8:40They are churning out a mountain of
233. 8:41stuff on AI and technology in general.
234. 8:44Look at robotics.
235. 8:49If, on top of that, they get a tip-off
236. 8:51about what a competitor is doing and
237. 8:53manage to catch up to Nvidia in hardware
238. 8:55, chips, and so on, it’s clearly a
239. 8:57pretty nice advantage.
240. 9:03It speeds up the race, in short, but
241. 9:05it's just one factor.
242. 9:08It’s not like this radically changes the
243. 9:10situation.
244. 9:11So, those are my two Satoshis. Then
245. 9:13there is generally, in my opinion,
246. 9:15another issue that is less considered
247. 9:17but important: Nvidia, until today, has
248. 9:19been that kind of "mother-aunt" company
249. 9:21.
250. 9:22In all the AI operations you see from
251. 9:25companies, but also, I don't know, take
252. 9:27Anthropic, Elon with Grok, Grok Bot, and
253. 9:29all this stuff, OpenAI, Nvidia is always
254. 9:32in the middle of it.
255. 9:34I mean, they are the ones at the
256. 9:36foundation of every AI company.
257. 9:40They are the ones who, when an
258. 9:42investment is needed, Jensen picks up
259. 9:44the phone and talks to JP Morgan, to
260. 9:46this or that investor; he can acquire a
261. 9:48company or lend a hand to another.
262. 9:52They are the ones who have acted as the
263. 9:54glue for this whole thing.
264. 9:57The moment this figure of Jensen Huang
265. 9:59is gone—who, I repeat, has always had an
266. 10:02incredible image, okay?
267. 10:04Incredible.
268. 10:06At least from what has emerged over the
269. 10:0825 years I’ve been watching tech
270. 10:10publicly.
271. 10:12At that point, there is undoubtedly an
272. 10:14impact.
273. 10:17There is a potential impact on the AI
274. 10:19market in general; there could be a
275. 10:21slight slowdown, there could be a surge
276. 10:23from competitors—there are definitely
277. 10:25negative implications.
278. 10:29So, to wrap up this whole affair, Jensen
279. 10:31Huang did what he did.
280. 10:34He resigned, he'll be fine, Nvidia will
281. 10:37be fine in the medium term, national
282. 10:39security might be compromised, but China
283. 10:41will reach US levels anyway, if not
284. 10:43surpass them.
285. 10:49The market might see a slight adjustment
286. 10:51in the short term and a moment of
287. 10:53greater caution; operations that were
288. 10:55supposed to happen might pause for a bit
289. 10:56.
290. 11:00Basically, there’s that classic moment
291. 11:02of freeze in these situations. Those are
292. 11:04my two satoshis on the fly, let me know
293. 11:06yours in the comments. Jensen Huang and
294. 11:08Nvidia.
295. 11:10Need I say more?