← 1% of the 1% Podcast with JT Foxx
1% of the 1% Podcast with JT Foxx
#146: My Plan To Make 10 Billion with AI… Try it, it Works! (Full Breakdown)
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- [00:00]
A
Welcome to our brand new show the business of AI. After doing a show that has been top ranked on M and as which I do but many of our companies, over 84 companies, six of them are AI and now we're transitioning to the word of AI. We recently my partner and I here in one of our companies launch command. AI launched a book that became internationally best selling book as well. Let me pull the background here just so that everybody could see it. It's it is and you can get on Amazon. The business is war. AI is the new weapon. Because it is the new business. AI will either replace you or amplify you. And I am here with my partner and co author of this book, Eric from Thailand. How are you?
- [00:42]
B
Hey, I'm good, thanks jt. Thanks for having me.
- [00:45]
A
The reason we're putting this show is we want to talk about everything AI related the news, particularly about AI what's happening, how you can use it, what's a good tool, what you should do and how it can help your business. How can amplify and you want to use some of our tools. Everything from AI employees to AI or monetization or even partner with us as well. All that is in the chat. We'll go over that. So Eric, let's get straight to it. Your background is you basically invented the first online casino and then when the heat started getting hot, you kind of got out of it. And then you started the first affiliate program AI and now you are transition to AI. When was the first time you heard about AI? And second, when's the first time you start working about AI?
- [01:33]
B
I heard about it early in my career. It was just a different sort of an AI at the time there was no ChatGPT. It was really just sort of automation so automating workflows. And I started working with it right away because I was always really obsessed with how can I use computers and software to automate processes that humans do, especially the boring, dull one, you know. So that's where it all started.
- [01:59]
A
Now for those who don't know, Eric is a resident left brainer, a man of very few words. But when he does speak it is usually technology based. You know, it's interesting because when did they start calling it AI? Because the country of Antigua is a country in the Caribbean. I own a hotel, I'll never St. Kitts. I'm familiar with all the Caribbean and they owned I think as of 1997 AI. Well now the majority of these islands, their source of income is passports and or tourists. The majority of this country, Antigua's revenue is people who are signing up for the dot AI and it's recurring income. They asked for two years upfront, which a lot of AIs don't. And then it's recurring on a monthly year. They're really cleaning up. Interestingly enough, isn't that funny how like Antigua kind of landing on a lottery that now the eyes are becoming the most expensive AIs.
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B
Absolutely. Yeah. They got lucky. There's a few countries actually that got lucky in that sense where they're like sort of top level domain with something else.
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A
What's another one?
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B
I think Dot co. I have to look it up. I just remember there's a couple off top of my head, some examples.
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A
I mean, DOT co. Dot Co is like, if you're too cheap.
- [03:15]
B
No, personally not. No, no. It never, never anything as big as
- [03:19]
A
AI, but never really took off. It was kind of like a red herring. The only net I know is Comcast Net for some reason. Right. If you think about it. And by the way, I look very intelligent today because I'm wearing AI glasses and so something. You were one of the first ones to wear, I think back in 2021 at my event. We had Co Houser from Yellowstone, we had Phil Jackson, we had people literally all over the world and you came up with your glasses and I thought you were ridiculous and now you're a genius for having to wear those glasses. Let's talk about out of everything that. Oh, and I'll tell you where I first found out about AI is I was at McLaren. I'd have heard AI, but it wasn't really interested. It's kind of like you heard about bitcoin, but you're not doing any research type of thing. And so I'm sitting in the office of McLaren and Zach Brown and at this point, McLaren, it's in 2021, they're kind of last and they're going through a lot of driver drama. And he's like, I don't think we're going to do well. I think we're going to come in last place and we got to turn this around. And he says now we're using artificial intelligence AI to look at every data point, every piece of information, everything we built to try to come up with not only the perfect kind of engine, strata and body, and based on past, present and hopefully future data, but also to do millions of race simulation with every single possibility of, you know, what happens if there's a safety flat, safety car? What happens if there's a Crash. What happens if so and so is in this place so they can come up with data. And I remember shrugging it off and then of course the first two races they were in last and now they start waiting a few laces later. The next year they won the Construction Championship and this year looks like they're going to win both the Construction Championship and the driver. But it is pretty remarkable that there are still people that may be watching this that are using AI just to. To write a couple emails or to search and that they have not used it as a weapon. As we talked about our book, which all of you should pick up because it's, it's remarkable not only from the tech component of it but also the monetization component and the amplification of you. In a few minutes we are going to talk about where are the, the trends and what's the first thing I should. Would you do if it was me and if you're starting their business today. Are you answering the question? The question is what's the.
- [05:45]
B
You said in a few minutes.
- [05:46]
A
Yeah, he's already a left brain. I got to ask one question. We're very different. I'm a right. We should call this the right brain and left brain show. I talk a lot. Eric responds in 10 second sound bites. No, the, the, the how people are not using it there, you know, they're just using it for emails and little bits of here and there. They're not using it. What are you saying that people are not using you. You, you told me a very famous friend, mutual friend of ours was not using it. I didn't know what with.
- [06:16]
B
Not at all. Yeah, he didn't even know what chat GPT was. So it's definitely, you know, underused I think, you know, some people, they're going in there like asking it for like some basic advice but they're really not fully leveraging the types of things that it can do.
- [06:35]
A
I think they're in terms of people are afraid. I think there's this notion of like I'm afraid but if used correctly and ethically I think it's the greatest advancement. I think bigger than the phone, bigger than the Internet because the Internet is consolidating a bunch of information together that you search. But now if I go on Google, I don't know what's right. What's wrong? I have no idea. But if you, you use AI, you can type it in and does the work. We're going to talk about. The first thing that people should do is basically creating the brain and we talked about brain. We own a company that makes the AI and also created a platform called CoreBrain AI, which is a system where you're able to put use other brains or use your brain. And we'll talk about the notion of it. The knowledge base that people have is right now everything is being scraped off what I call broke GPT and I call it broke GPT because all the information is scrubbing the Internet. And what it's doing is it doesn't know what's a good information, what's not good information. Because for example, I have 8,000 hours of content, I am not putting it for free on the Internet. And nobody is because it's behind what's called a monetization paywall. No different than a medical research paper they're not releasing medical papers into. And there are some, but the majority are behind a pay wall so people can pay quote it as a resource. Because if nobody makes money, what's the point of doing free information? And so what happens is you have the brain power. People are putting things into AI where they may not be getting accurate answer or very generic, right? Because just like a book, although we did something a little bit different in both of my books, we gave as much information as possible, which literally could have charged 5,000 for a course for it, but that was not our intention. But most people, most books or most products, they tease little bits here and there so that you can then buy behind the paywall. And the first thing that I thought in order before I met you was how do I duplicate my brain so that my marketing department, my sales department, my CEO can stop you. You got a minute? You got a minute? You got a minute. And the notion was, how can I monetize this information so that I don't have to do any of the work Because I find myself on meetings, all day meetings to have meetings. And also too, if I have a marketing department that makes $75,000 a year and I have the email, I'm like, I don't, I don't really like that email. That's not what I've said. But I can't expect someone to make $75,000 a year to come up with emails exactly the way I am. And you can't expect someone like me, when you own 84 companies and brands to take a look at every piece of email that's out there. So the thing is, if I can duplicate my brain, just imagine this, everyone listening to this, you can have a hundred of you where everybody can do what you Want to do the way you want it to do, do it as well. Stop starving distractions and so that you can focus.
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B
It's like the opportunity to, to clone yourself. You know, I'm sure a lot of people out there have won.
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A
Like that's another word, that's another word. That's scary cloning AI. Like we're using all this scary words on the business of AI, right?
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B
But I mean a lot of people have wanted, you know, because there's only so many minutes in the day and a lot of people have thought, well, if there was 10 of me, you know, that and I could distribute these tasks to all of these like versions of me, that would be great. And basically that's the opportunity now with AI at least, you know, in terms of, you know, making duplicates of your mind so that you can apply it in a lot of different ways.
- [10:13]
A
And I think the importance of this is, number one, to make sure that you yourself also have a knowledge base, your knowledge base. And that's something we do where we AI people, we AI themselves. But to be able to take it so that whoever in your organization is doing it the way you're doing, but as individually the next frontier and, and we're at the forefront of it is the AI employees. And there's been a lot of, of AI agents and bots and what they do is they scrape off broke GPT and I call it broke GPT because everyone here watching this have as access to the four eyes, right? And it was until we created what I call the fifth one, JT1, which is really based on the most advanced business AI that if I was them in their financial situation, no matter level, what would I do, how would I look at the document, how I look at a marketing, how I look at a branding, how we look at it from a legal standpoint, how would you look at, from a CFO standpoint, a CEO standpoint and something straight to the point as well. Because I think to be able to look at information in a certain way. So for example, from a tech point, you might look at it a piece of code or a piece of tech very differently with someone that does now.
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B
Absolutely.
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A
And so the, the, the idea was can we put the most advanced business brain into AI employees so that it literally thinks like a very high level performing even more intelligent, most human works 24, 7 doesn't have any excuse. But the key for us and what we've sort of figured out is that we can AI them on top of let's say JT1 and they can amplify their knowledge base. Now the AI employee thinks like them also. And eventually we're hoping that the AI employee has enough knowledge base that it takes first position and when it doesn't know the answer and then goes to the secondary knowledge, which is JT1, and then the regular AI. Because right now, sometimes when AI doesn't know the answer, it, it makes things up, it hallucinates, it creates fake testimonials, it, it creates things that are not real. Because the knowledge base, Eric, where's the future knowledge base going to go? So we help people create their knowledge base, right? Everything they know, who they are, what they're about, where is the future of that knowledge base is going to go? What's it going to go into? I think first one is going to be a CRM. I think the CRM as we know it. It's interesting. Companies like Salesforce and HubSpot are big CRMs. How they're going to be affected? Because right now, Eric, if I say, hey, how many people opted in to, you know, the show and how many people watched and how long they watched and how many people click the link? Because with our book, you, you get 77 ways on how to monetize AI. How many people downloaded that, how many people opened that, how many people opened the first email, second 30 mail. If I did something like that, I call my accounting department or a data department and it takes two or three days for me to get it. By the time I get it, I've already moved on. As opposed to me asking everything I have there and either a having inside my glasses or having it right in front so that I can make decisions in real time and then move on to the second thing. Two days later it's too late. I think that's going to be one of putting the way you want things, how data you want things, what's important to you? I think that knowledge base, at first and foremost going into the CRM.
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B
Yeah. Knowledge is power and it's, it should be applied in, you know, all aspects of your life. Really. Every time you write an email, everything you do, you know, CRM is a great example, but pretty much every type of tool that you use, any, anything that you know, you do online, should be shaped by your specific knowledge.
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A
What's another thing you think the knowledge base is going to go into? So I think number one is CRM. What do you think is the second another thing that knowledge bases will go
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B
into specifically where it will be applied?
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A
Yeah.
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B
Where can it be just so within all of your communications. I think so, you know any sound like a government.
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A
I don't know what you're saying. I know it sounds really good.
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B
Email. So. So email. Yeah, email or like any kind of communication that you do online can be shaped by this knowledge base. So when you write an email it can draw from that knowledge base. To take specific.
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A
That's a given because people already have their knowledge base. I'm talking about specifically tangible things. I think the knowledge base inside your glasses. Inside glasses. I think that's going to be because here's why. Imagine I see something. Yeah. You bought this last time or you looked at this and you didn't like it for whatever reason or you had a bad experience with this type of before or to be able to say, you know, hey, I would I like this. Right. Or just knowing the preference of knowing everything there is to know. You maybe knowing yourself as well as you're not, if not better because humans tend to forget about that. I think the future of knowledge base within glasses are going to be a thing that's going to be a future. Do you have another one for me?
- [15:14]
B
Absolutely. It's like bionic memory, right? I mean it's just an assistant. Like for example, the glasses you're wearing now, they can help remind you where you parked. So in that sense, I mean, you know, everybody's going to have their own sort of bionic memory powered by AI I think our own memories.
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A
When OpenAI bought Johnny I've. And for those who don't know Johnny I've is the sort of designer of the iPhone who work very closely with Steve Jobs. And then when Tim cooked him over there was more of a not maybe that relationship which maybe that's why Apple is suffering right now. They're so behind on AI even Syria. I'm like look for this I, I, I went in Syria yesterday because I was looking. We just did an event and then you were there inside the Sydney Opera House. A business event which had never been done. Sold out. We also launched the book businesses war AI inside the Sydney Opera House. And I ran up the Sydney Opera House kind of like Rocky and kind of like Rocky up the stairs. Rocky too. And I went into Sir, I said siri, please pull up Philadelphia, you know, 2016 through my pictures. And it did nothing. And, and that isn't really a missed opportunity by them. Is that the most powerful device that so many of us use, like you know the, the, the, the, the iPhone here and how we are just not using it in a way it's not used as an AI and and I think that could be Apple's downfall. You know but it's interesting how they the lack thereof innovation. They've done a phenomenal job Tim Cook on ecosystem supply chain which that's what
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B
he is but he is, but he's not a product guy. He was never a product guy. Steve. Steve Jobs was the product guy and Joni I've of course who now is with OpenAI so and I think what
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A
do he's going to design products in the household that then they will integrate the broke GPT.
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B
Yeah they announced today. Well it was like a little bit of a leak. They haven't officially announced but so they're going to be doing like an in home speaker like a smart speaker. Glasses likely. Yeah something like an Alexa and glasses and some different form fact like wearable form factors maybe something in here, maybe a pin like the humane pin even though Johnny originally didn't like that. But the concept is essentially that you're going to wear AI because it's going to be integrated in all of our lives and it just makes sense to have it especially in glasses because then it can see what you see.
- [17:41]
A
But here's the problem, the concern about privacy we know and it has leaked that many of the AIs including appears on search histories and I think the worst thing people could do here is get the free AI and use it because they're using your content and your information to get smarter. And by the way right now I think you and I could probably take random people on here, search their search history and search by them and find out what they've been putting into AI.
- [18:07]
B
And so yeah, it's the same as social media. You know, it's like if, if you're not paying then you're the product. Right. So you know, it's the same with a lot of these, these free AI tools that are out there.
- [18:19]
A
I think there's going to be a product too where you go in and you have AI in your fridge where AI scans everything in the fridge, knows everything there is in the fridge and what it does. It's like hey, you have one apple left. Would you like to reorder and. Or if it says hey, if I'm out of apples because I eat all the time, order it, send it to the grocery store, then either do a one off order or is there anything else preventively that you could have? I think that is going to be.
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B
Well everything around us is, you know that's it's called the Internet of things. And that concept has been around for a while and just making these smart devices like you mentioned, the refrigerator. So basically everything is going to be connected to the Internet and anything that's connected to the Internet can send updates and data and it'll be AI's job to basically deal with all of that massive complex data and make sense of it all and organize it. So summarize it and you know, take, you know, some useful action, you know. So like you said, your refrigerator will basically know when it's empty and it'll, AI will take care of the process of restocking it effectively.
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A
Do you think the Chinese, because you work with, and you work with a lot of AIs, I come up with ideas, you implement it. So you have zero emotional intelligence to create customer journeys and customer experience or marketing or branding, but you're a genius at creating things and fast too. You and I talk seven days a week. In fact, we talked this morning at 3:30 in the morning, my time for the record. It was, it was 3:30 in the afternoon, your time for the record. So you do not talk at 3:30 in the morning. I do because I'm, I walk and talk. But what about the Chinese AI? So just like there's a lot of fear that the, you know, obviously AI is going to take over now that people have this notion about, oh, AI is going to like the China, the Chinese are going to take my AI. What's the difference between the current AI companies we have here in America? The, the, the groks, the Geminis, the Chat GPT, the Quads of the world and what we're seeing in China? And I hear, I hear they're better sometimes.
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B
I hear they're cheaper in some cases. Yeah, in some cases. I mean, so first of all, you see they're doing a lot of open source stuff, which is really interesting.
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A
Explain, explain to the audience what is open source?
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B
Because so open source basically means they release the model in a way that you can take it and host it yourself and modify it and sort of make your own customized version of it so it's less controlled in a way. And they've been doing it very efficiently. I mean, in terms of creating their LLM models. You know, the Deep Seq was the big shocker to the world at the beginning of this year when they announced that they had trained this whole thing for it was like something, I don't know, was it $8 million? Whereas, you know, the AI companies here in the US are spending billions of dollars.
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A
How they're spending. How were they able to do it for 8 million while the ones do it down here for, for less expensive?
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B
It was. It's like necessity is the mother of invention or innovation as they say. Right. So basically they were restricted in terms of the chips they could use. So for political reasons they couldn't access a lot of the latest Nvidia chips, which are the best chips in the world right now for processing AI. I mean the US is making the best chips. And because the Chinese were restricted in terms of the amount of compute they could use, they were just forced to innovate and sort of at a software level figure out how to more efficiently train these models. And so do you think that.
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A
So are they safe to use? Are they better to use? Should we use in complementation
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B
if they're safety. So the data. So because they're open source, you can set them up in a way that really you are handling the data that said ultimately somewhere in the code, you know, there could be something that, that shares it. So it's hard to say if it's 100% safe to use. And like he was sort of like, you know, watching that stuff on the back end. But you know, I definitely think they have their purpose and their place. So you know, depending on the type of data, I don't know if I'd run like a healthcare type of operation on there or something like that. Yeah, exactly. There's some stuff that I might not run on a Chinese model, but there's a lot of other stuff that I think would be perfectly okay to use and it would be cost effective and the results in terms of the benchmarks of how intelligent those models are. Yeah, some of them are quite good at some things and especially when it comes to for example image and video generation. They have some really good models that do some really good stuff and I think those are very safe to use. I don't think the data in there, you know, you're not really sharing anything usually with those models. So yeah, I think it's just cool to see what they're doing. It definitely, you know, competition in any sense generally benefits us, the consumer. Right. The people who need to use this. So you know, having that competition out there for developing these AI models, I think overall is good.
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A
Last question. We, you know the, the play of the glasses where meta Facebook bought 3% of. Was it Luxacore? Luxottica, Luxotica. Sorry. Yeah, $3 billion with valuating them at a hundred billion, which is really high for glasses company and which is very interesting. Because they're the, they control well, they
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B
own like, they own everything. I think it's a smart move. Yeah, they own like.
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A
Yeah, but 100 billion valuation, you really think before Meta's involved it was really worth a hundred billion. And also too when them partnering with, with Meta done better just so you understand it because I saw a 60 minute episode long time ago and what happens, they make them and for some reason they control 85% of the market and they're the Sunglass huts and they
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B
took over the Raven, all the retail locations.
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A
I guess Oakley didn't want to play ball so they removed it, squeezed it. Oakley went out of business and then they bought Oakley's. They're the ones. Anything that's glasses with these brands are just basically lighting their brands and they're making it, you know, I mean, how much does it cost to take a sunglasses? Five bucks or less. You know, I mean especially if you make it overseas. I know so much about the lens or stuff like that.
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B
Yeah, yeah, yeah. A couple bucks.
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A
Yeah, a couple bucks. And then, you know, you're buying them, you're buying Maui gyms for, you know, 280, 300. I mean it's just, it's insane. And now you've got this worth 3% of making a valuation of 100 billion, which it's not, not a bad payday for them. I'm just very curious to see what was it valued before or did they overpay. It's a partnership that's paid off and now I think they just launched this.
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B
Yeah, they might have partly overpaid, but I think it was strategically a very good move. I mean Apple's going to come out with glasses. It's rumored that Apple will come up with their glasses. Maybe not next year, but probably 2027.
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A
That's the problem. They came up with those big bulky kind of VR and that was a mistake.
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B
That was just a mistake.
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A
Another example, like a bunch of douchebags on the plane. Right?
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B
And you know the story behind those was Tim Cook was, he was like really dead set. He wanted to make real smart glasses. Something that looks like a form factor, like what you're wearing and more like what Meta just announced. Basically glasses, but they have a display that can, you know, project on the lens. And so he was so obsessed with sort of recreate because the technology wasn't ready, but he was so obsessed with sort of faking that. And that's why that product has what they call eyesight, which is that ridiculous. Like it makes it look like Your eyes on the outside. He was trying to fake the whole, like, feeling of wearing smart glasses where you could then disappear into this virtual world. And so. But to fake the whole smart glasses piece, he had to fake the outside. That's why they put those weird, like, people's eyes on the outside.
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A
They could still walk around.
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B
So. And then he. And then they focused on trying to make the best. What's called pass through, which is when you're wearing the thing, you're looking through actual, like, video cameras, you know, you're seeing because there is no transparent lens in front of you, so you're looking through video.
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A
Explain what you have in your hands right now.
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B
Oh, this is just a strengthening. I'm always.
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A
I have one. I have. I have one too. I just never use it. So I figured I'd pull it out while you were doing there, working out on the show, releasing tension. Yeah.
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B
So it was ironic. It was. But so the product, I mean, because he was trying to do the best pass through, it made the whole thing really heavy and expensive and it heated up and the battery. So it just made the whole thing, like, just pointless. Because the only reason you would want that pass through effect is if you were walking around all day with this. But it was so heavy that, like, you know, you couldn't actually do that, and therefore you didn't need this.
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A
And that's why it looks stupid.
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B
Exactly. And so that's why the thing didn't take off, which is, you know, they
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A
killed it pretty quickly, but. But now they.
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B
Yeah, yeah.
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A
Meta just launched. The one with the bracelet. I just saw where people type on there. Yeah. I don't know if that's more of a. I think that's early stages. I don't want to, like, go like this on my. You know what I mean?
- [27:54]
B
No. So you don't type that. Actually, it's really cool what they have with that bracelet. It senses, essentially. Sense is what you're thinking. So because it picks up these micro movements in the tendons and you're like. So even if you just think about moving your thumb, for example, it can pick up that, like, you know, from your wrist. So have I tried. I've. Not that this one, but a couple days ago. Similar types of technology.
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A
Oh, so this does exist. So it's not like.
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B
Yeah, absolutely, it exists. And this is. Yeah, this is going to be a big thing. It's the next step as we get more capable cell phone.
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A
Is that. Is that is at risk. Because to be able, like, for example, I, you know, After I talked to you, I, I listened to Formula one, I watched Formula one and I was like really just walking and listening and talking. It's actually, I prefer it than the earphones. And then I don't know if this is radioactive or, you know, who knows, probably come up in a month. They say 150 radiation is going through my brain. I'm sure there's everything, everything I do is bad for me. And so, you know, I think we're going to wrap up the show on that note next week. On the show what I want to talk about is what is exactly Meta's doing with hiring all these people. And it's actually a brilliant move, something that all of you had that. So by the way, if you want to use the most advanced business AI or you want to use AI employees or you want anything AI related or you want to partner or you have a great tool that we can collaborate with you because we have a large infrastructure infrastructure or you're a developer or any of these things or you anything AI related, we are open to that. The link is in the comments for that as well. And do me a favor, if you can pick up Business War. AI is a new weapon currently number one in many countries. Also my first book, which I launched six months earlier, businesses War, which is you learn nothing from success, everything from failure. And I just want to explain what business is. War is for people to know. It's like you either get the deal or somebody else gets a deal. You get the opportunity or somebody else does. And AI if you miss on that opportunity, it's going to be another story. Just like the computer, just like the Internet, just like social media, just like bitcoin, like it's here, it's only going to get better. So get on the train now and if it's something we can all do together or help AI, your company or yourself as well. These are all things open or in the chat as well. Any final thoughts, Eric? Wow, amazing. I should have given you the script. It's okay. He's a left brainer by the way. That's not his job to be entertaining. So it's his first time he's ever been on a show or a podcast. Right? I mean, is this the first podcast you've been on?
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B
Actually no, I've done, I've done some podcasts.
- [30:32]
A
But by the way, next week we will pull up those podcasts and evaluate that with AI to see how good or bad they were as well. The business of AI show. Our first one is a wrap. We're going to try to launch them every Thursday like clockwork. So please go to YouTube, make sure you subscribe, make sure you that you like and give us a comment or topics you like us to talk us about. Takes two seconds. It doesn't cost any money. It would help us as well. And if you get business war AI is a new weapon. We will give you 77 ways on how to monetize AI for free. Exactly. They have. Again, the link is there before. We'll see you on next week's show. Thanks for being on.
- [31:09]
B
Eric.