Gary Vaynerchuk, American businessman, CEO and Chairman, expressed that artificial intelligence (A.I.) is a major technology, but he is cautious about investing due to the high valuations and hype.
He emphasized that A.I. is a powerful technology and that Meta’s decision to require disclosure of A.I. use in political ads is strategic.
“I’ve seen Web1, I’ve seen Web2, I’ve seen Web3. I’m looking at A.I. startups every day as an investor. I just think there’s a million of them right now, and they’re all valued very expensive because we’re in A.I. hype,” Vaynerchuk said. (Trending: Federal Court Rules Against Gun Owners)
“So I’m just trying to be a little bit thoughtful because I tend not to like to lose money when I invest, and so I’m letting it settle a little bit, see who are the good operators. I’d rather pay a little higher valuation and see traction,” he pressed.
“But look, this is one of the biggest technologies in the history of mankind. Every single person watching this who right now hates A.I., they will all use it.”
Vaynerchuk believes that generative A.I. is not yet ready for full trust and that platforms like Google and Meta are more concerned about business impacts than government regulations.
“If you want to talk about fake, 99% of politicians that go on any platform are talking about things they don’t actually execute on anyway, and business owners and parents and humans,” he noted.
“I think this policy is bigger than this election. I think the timing’s right. I think people’s emotions get high on election. But the reality is, A.I. is a powerful technology that’s coming. And I think this is a pretty smart, strategic move by Meta.”
“I think they’re just trying to be smart about it. The fact that they’re rolling out their product slowly to begin with, and so because they choose to let the earliest users be people who sell soap and hats instead of politics, it’s just smart comms,” Vaynerchuk said.
“The Googles and the Metas of the world are not as scared of regulation as people make it out to. They’re scared about their [profit and loss],” he said.
“They’re scared about the stock price you just mentioned. They welcome if the government wants to get their act together to give them clear regulation, they welcome it.”
“The reality is, is that they’re worried about getting canceled by CMOs who won’t put dollars into their platform,” Vaynerchuk added. “They are businesses, and I think they’re making business decisions.”
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