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- [00:01]
Roland Frazier
But I find that across the board, the people that are getting the most out of it are the people who are interacting with it versus the people who are just looking for a one shot answer. And there was another video recently from a Stanford professor that teaches AI to to groups, primarily people who don't have any experience with it. And he said that 40% that, that what is it? Something along the lines of the people who are using it like a smarter Google are only 40% effective using it, whereas the people who are having an interactive conversation with it are in the high 70s, low 80s. In terms of effectiveness using it, what the effectiveness measure for using it is, I don't know, but I thought those were both interesting. Foreign what if the way that you use AI says more about your future than your resume? Sam Altman recently said that younger people use Chat GPT like an operating system and older folks use it like Google. Today we're going to break down what that means, why it matters, how rich people versus poor people use it, how successful people who are using it successfully versus those who don't don't, and how shifting Your mindset could 10x your productivity, your learning and your business. Whether you're Gen Z or Gen X, this episode is going to change the way that you work with it forever. How do you like that for an intro, Ryan?
- [01:32]
Ryan Dice
Wow. Yeah, yeah, Serious question. Did I write that for you?
- [01:36]
Roland Frazier
I mean, I and I interacted to collaborate to create it, which is basically.
- [01:41]
Ryan Dice
You and our good pal Mr. Chatgpt.
- [01:45]
Roland Frazier
Yes, in this case it was Mr. Chatgpt. Although I'd say the one that I'm using the most these days is Anthropics. Cloud. Cloud. But how about yourself?
- [01:58]
Ryan Dice
Yeah, I mean, I love this topic. It's something that I've been talking with our own team about and it's something that I've been talking with my wife about. And so yeah, I think getting into how we're using it and how I see different groups using it is really, really, really important because it has become the thing that I am using basically all day, every day. And I'm seeing that with certain groups and I'm not seeing it with other groups. And I think that it is incredibly instructive.
- [02:28]
Roland Frazier
Yeah, so this kind of came about as the result of an interview that Sam Altman, the CEO, founder of OpenAI, which is ChatGPT's parent company, had with Sequoia Capital AI and I thought it was interesting. He said basically young people use ChatGPT as an operating system and sometimes as an operating System for life. Older people use it like a smarter Google. And I think that's probably, it's interesting he does it by age, but I find that across the board the people that are getting the most out of it are the people who are interacting with it versus the people who are just looking for a one shot answer. And there was another video recently from a Stanford professor that teaches AI to, to groups primarily people who don't have any experience with it. And he said that 40% that, that what is it? Something along the lines of the people who are using it like a smarter Google are only 40% effective using it, whereas the people who are having an interactive conversation with it are in the high 70s, low 80s. In terms of effectiveness using it, what the effectiveness measure for using it is, I don't know, but I thought those were both interesting.
- [03:55]
Ryan Dice
Yeah, I mean, and what it reminded me of. And I've got to give credit where, where credit is due. I was actually playing golf with a buddy of mine, David Perel, who has a great podcast, How I Write Smart Guy. Very insightful. And we were, we were talking about how different people use it and he was talking about how different people on his team use it because I was like, I just see it, it's different, different people use it in different ways. And what he said, and I just thought it was, I thought it nailed it. He said to me, it comes down, it's not age, it's executive function. People with a high executive function are really good at leveraging AI. And people with a low executive function kind of just treat it exactly like you said, like it's Google. And so, and what I mean by executive function is executive function is just your ability to kind of step in and just get things done. Like when we think about executive leaders.
- [04:44]
Roland Frazier
At a company, decision making, you think.
- [04:47]
Ryan Dice
Yeah, I mean, I think, yeah, decision making is an aspect of executive function. It has to deal with like setting the overarching strategy, you know, understanding where to do your research, understanding the right questions to ask, but not merely asking the questions. If you think about an executive leader at a company versus an entry level employee, most of your entry level employees basically sit around waiting to be told what to do. And when they don't know what they're supposed to do, at best they'll just kind of ask some questions. And so that is the way that most people utilize AI because most people, let's be honest, have fairly low executive function. And I also think the distinction in age group is if there's one thing that life does to people. It beats out our executive function. Like when we're kids we actually have a quite high executive function. Like most kids are like I'm going to go do this. You know, I'm going to, I'm going to, I'm going to make up this game. They're very highly imaginative and they just do stuff and then life beats out all of our executive functions. So yeah, I think younger people perhaps use it in that way because they have a naturally higher executive function. But this is why I think executive leaders, entrepreneurs have taken to AI more than a lot of our teams have. And I think that that's really dangerous for the team members.
- [06:06]
Roland Frazier
I think it is too. Let me give a couple of stats to a couple of data points before we get into it. 60% of Gen Z use ChatGPT regularly. That's according to Morning Consult. Among 18 to 24 year olds nearly 40% 40% use it more than once a day. Over 50% of college students report using AI to complete or enhance assignments. Older users Gen Xers which is funny to me that Gen Xers are now moving into the older category.
- [06:37]
Ryan Dice
Yeah that's I take that personally.
- [06:39]
Roland Frazier
And boomers use AI less frequently typically as an alternative to search like YouTube and Google or for summaries, explanations and some and simplification for copy editing which I thought was interesting idea clarification and email writing and I know that I've seen even our kids use it for like writing Mother's day cards which don't do that.
- [07:03]
Ryan Dice
My daughter, true story she'd kill me if she knew I was telling this but she didn't listen. My daughter literally used Chad GPT to script out how she was going to break up with her boyfriend.
- [07:17]
Roland Frazier
Oh nice.
- [07:18]
Ryan Dice
That's awesome.
- [07:19]
Roland Frazier
Okay, last last Data points only 15 to 20% Good thing that our kids don't ever listen to us. Including our podcast. I know data points for the Last few only 15 to 20% of baby boomers report weekly AI use according to Pew Research and Gen X shows greater adoption but mostly for single query use cases. So I thought that was that was really interesting and and what generally they were saying is and I've enhanced some of this but that younger users have a co creator or collaborative mindset. Older users think of it as information retrieval as their mental model. The younger users are expecting multi step interaction and older users are expecting one and done which is very Google like. The younger users are experimenting with plugins, APIs and other enhancements that kind of connect to and with different AI chat Platforms, whereas older users just use the default interface. They don't go outside the four walls of it. And then younger users see chat GPT as part of a workflow, which I think is really, really a good thing to think about, whereas older users see it as just a smarter Google. So I'd love to talk about that, talk about what we think about it from an age group kind of standpoint. And I'd love to kind of wrap up with maybe helping whoever is listening, whether you're Gen Z using this all the time, even, you know, as you listen to this or watch this podcast, you know, to get to do more research and get data points all the way to. If you haven't even started yet. Because I think there's a lot of, a lot to be gotten from it. Want to start with, with kind of what you were talking about in the workforce and you know, with employees and such. Or, or do you want to do the age thing? What, what's your, what's your pleasure?
- [09:17]
Ryan Dice
To me, it just. Yeah, it really does. I, I think it has less to do with, with age. I mean, love you mean it, Roland. You ain't young, right? Yeah, you just not.
- [09:29]
Roland Frazier
I'm on the cusp year for Gen X to Baby Boomer, so.
- [09:34]
Ryan Dice
And I'm on the cusp of like millennial to Gen X, but, but Gen X. So neither of us are what we would, what that these surveys would consider to be to be young, but we do both have high executive function. And I also think a lot of this is, you know, how do rich people use it versus, frankly, this sounds harsh. How do poor people use it? Because most wealthier people are going to have higher executive function and wealthier people.
- [09:59]
Roland Frazier
Have access to it, which is.
- [10:01]
Ryan Dice
Well, yeah, there is that as well. But gosh, even the free version, man, the free versions is pretty great. So I don't, I don't know that I necessarily take that. I just, I think that there are, there, there are people who are used to and are comfortable with essentially having an employee and they're, they're comfortable having somebody there to help them do stuff and they don't, they don't see it as being necessarily weird. Right? And so that's how I know any time I'm starting anything in any AI tool, it's always just, you know, hey, I need you to act like this, basically. I mean, that is the, essentially, let's get some role distinction in there. But I basically say the same kind of thing that I would say if I was going out to my Team. Hey, I need somebody who's good at this. Like what I used to do, you know, back in the day when we had 70, 80 people all under one roof. I, I'd walk out of my office if I needed something done and I'd say, hey, who is good at X, Y and Z? Who's good at this? Somebody would hopefully raise their hand and be like, great, come here. Like, let's go work on this thing together. Like now I do, I follow the exact same workflow. I'm just now doing it with AI which, oh yeah, just happens to be good at absolutely everything because there's plenty.
- [11:15]
Roland Frazier
Of available 24 7, which is the best.
- [11:17]
Ryan Dice
24 7, exactly. So, I mean, I'll give you an example. I was, we're dealing with an issue on the scalable side where we'll have prospects that the sales team will have the sales call and they'll be like, yep, I'm in. I know this is something that I need. I need to talk to a business partner. I need to do whatever. And it's, you know, they're going to schedule another meeting. It doesn't happen all the time, but it happens enough times. And typically when those sales close, it's a day, two, three business days later. Well, what we've seen lately is that has stretched out to a week, two weeks later. And a lot of this is just concerns about the economy, cash flow issues, like all that. Well, I was talking to our head of sales, I was like, well, what are some of the reasons that people say that they're delaying? And so I found out those reasons and on my way in to the office, I'm able to talk to chat GPT like it's an employee saying, hey, I need somebody who's a, you know, killer rock star, you know, a list sales expert who also, you know, is an amazing. A list copywriter. We need to, we need to knock out some follow up emails to reach out to these folks, explain the situation. And between the time when I left my house and I arrived at the office talking, using my voice in my car.
- [12:39]
Roland Frazier
Yep.
- [12:40]
Ryan Dice
We scripted out an email series that is going to go out in minutes. Like it, while we're recording this podcast, it will go out. Yeah, that's not like, I mean, I used to, I mean what that used to look like in the past was I would have that idea and I would call Richard, you know, and be like, hey man, what do you think about this? And he might try to bring in a copywriter and maybe we get it written that Same day. Usually it'd be a couple of days like. But I think that the issue is that that's the way that wealthier people think I need to get some help with this, who's somebody who's really, really good at this. And I think wealthy people naturally seek out people who are smarter, better, faster at the things that they are. They seek out good counsel. And I think a lot of folks who aren't, they just don't even think to do it. They're just like, ah, I guess that's not for me.
- [13:33]
Roland Frazier
It's. I think it goes to, to, to delegation and a prioritization of high value time versus lower value time. One of my favorite stories that my wife told me was that it just blew her mind. When we moved in together, she, the smoke alarm was going off and while I will admit that I have ripped smoke alarms from the ceiling and smashed them in the backyard, the because the Dagon beep. I told her, I said, I said yeah, let's definitely call somebody, you know, call the electrician and, and get them to take care of that. And she was like. When I told her that, she didn't tell me this, by the way. She was like, oh, I guess he doesn't know how to do that. Like, I mean I know how to climb up a ladder and disconnect cables, but that's not the best use of my time. And so I told her, I said, I said no. I said later. We had the conversation. I said no. Anytime you need something, if the sink is leaking, if, you know, if it's.
- [14:34]
Ryan Dice
Not like a moron can change out a battery.
- [14:36]
Roland Frazier
Say again?
- [14:38]
Ryan Dice
This moron can't change out a battery.
- [14:39]
Roland Frazier
Right, right, right. I'm just like, yeah, we, you know that that's a such low value use of my time and I'm really busy. I'm not going to do that unless I like it's a personal hobby of mine that I love changing batteries and fixing smoke alarms or she's about to climb up and rip it off and I don't want her to, you know, to, to do that because I, I don't want her to get hurt. But that's, that's, to me an interesting perspective is, is that, that, that executive function and here's, here's a cool thing to improve executive function which because I also have chat GPT open I went to Claude because then I can get a different perspective. But I asked it, I said how can you improve your executive function? And it basically said set tiny achievable goals, even 5 minute improvements count. Use timers, alarms and reminders. Literally create visual schedules and to do lists. Place important items invisible locations. Use apps designed for executive function support, which I would argue is chat GPT. Minimize distractions. Create dedicated zones for specific activities. Break large tasks into smaller ones. Use time blocking. Huge, huge thing. If you don't know time blocking, look that up. To schedule your day, try the Pomodoro technique which I actually heard about for the first time from you. Build buffer time in between activities. I do not do a good job of building buffer time because the activities are so scheduled out. Write everything down. Use checklists for routines. Keep a notebook or phone handy for capturing thoughts. Do weekly and daily planning sessions. Work backwards from deadlines. Use if then planning and then create an accountability system with an accountability partner. All those things, according to Claude, will help you improve your executive function. To me it's just don't put off a decision. I remember there was a time management strategy of putting a red dot on any paper that you picked up that you then put down without taking final action on it because you were going to look at it later and then going back at the end of the week and look at how many red dots and your uptime, downtime just in thinking about like reading to get ready to do that thing and then deciding you weren't and then putting it down and then picking it back up later and reading it again, wasted. Just you know, like call it five minutes between each thing. So if you had 50 of those things during the week, you lost 250 minutes. That's you know, what, six hours. You know, I don't, I don't know the new math but four hours. But like that's taking the time to figure out how to be better at making decisions and then thinking always you're saying of it's automated if I don't have to do it myself, even if it's another human. Yeah, I think those two things that decision making and delegation would be critical and if you start doing that, make the decision to use the AI, make decision to get input and collaborate and then delegate from yourself as the sole person that gets things done or thinks about things to this second brain that's now available to all of us that I think those two things would be super helpful. I'd love to get any thoughts you.
- [17:52]
Ryan Dice
Have on how I had a realization while you were, while you were talking about that. That also I think describes and helps explain the difference between how you know again I'd say wealthy people versus less Wealthy people are using this. Wealthy people, by and large value their time more than poor people do. Yeah, they just do. I mean, and it is a time is worth more than money kind of thing. And so they just develop that habit. Yeah, I mean, and it's exactly what you said, but because that habit is so ingrained, they have no problem delegating. And so delegation is seen as something that like, yeah, obviously I'm going to delegate, but I've seen for a lot of people and this, this goes to my, you know, members of my family and people who I love. They're, I mean, wonderful, amazing, salt of the earth people. But they really do see, oh, why on earth would I delegate anything that I can do myself? That, that is not the thinking, frankly, that that's going to generate long term wealth. It just isn't. I mean, there's no leverage in that kind of thought or idea.
- [18:58]
Roland Frazier
A constant time arbitrage. Time value arbitrage. Right. So you're going to, if you can say my time, let's just say that you, you don't have a value on your time. You don't bill by the hour or something like that. And this, this is great. Were you now, it was me. Richard and Matt Swan were standing at the airport in Austin recently when they were trying desperately to hawk seats off because they had overbooked, they were oversold. Right. And they started by offering $200, a $200 credit. They didn't say what it was. It turned turned out later they should have just said it was a $200 Visa card all along because they would have got a lot more takers sooner. But anyway, they started out with $200, no takers. $400, one guy goes up, does it. They still have four more seats. $600, no takers, $800. Now this is to wait about three hours for a later flight, which is actually the flight you took. So I think they got one taker at 800 and then gradually went up to a thousand and twelve hundred and eventually a family of three people went up and took the twelve hundred. So they got $3,600 for the three hours that the three of them were going to wait. So, you know, that's a pretty good use of their time. You know, I think that's about 400 bucks an hour each. And that was, to me, a great study of what is my time worth? You know, what is my time waiting worth. What's funny is that the lady that was pitching this over the speaker said when it got to 1200. And it took a minute still for people to come up because she hadn't still told them that it was a visa thing. She said, well, I know for one thing, nobody here's time is worth More than $1,200 an hour. And that's the thinking. And Richard and Matt and I looked at each other and go, you know, and, but that's the thinking of some, you know, of someone who hasn't placed a value on their time or even thought that it might be possible that their time could be worth more than that. So like, if you have no idea what your time is worth, obviously there was in that room some calculus that was going on in everybody's head as to what the hassle factor was worth. I was thinking, what's my time worth? And there's probably no number that they're going to come up with that's going to make it worth it for me. And I think that if you don't have that time value, you can't do the arbitrage. You can't say my time's worth 100 bucks an hour. To get somebody to change the light bulb is 20 bucks an hour. And it's going to take them two hours. So when I get them to do that, that two hours times $20 is $40 versus my hundred. I made $60 because I can be doing something better. And while you might not actually at that moment in time, during that, you know, 40 minute period, or just two hour period, excuse me, that it takes them to do that, earn that $100, you have placed a value on your time. And it starts you thinking about this arbitrage that I think is absolutely critical to being successful. What are your.
- [22:11]
Ryan Dice
Well, that's exactly it, right? Because this is just, it's silly because what you're talking about is, let's do the math, let's do the arbitrage, let's run the numbers. Okay, My time is worth X. Somebody else's time is worth Y, which is less than X. Therefore I should have them do that, right? And we're always running this calculus. And if you're a business owner, the first time you make that first hire and it's an entry level person, and maybe you're paying a minimum wage, but it still is just terrifying. You know, you get this like part time person, you're paying them a couple grand a month, they're checking the mail for you, and you're like, I don't, I, maybe I just would rather have the couple thousand bucks. And then you see like what you're able to do with the extra time. And eventually you're trying like hell. Like, you're paying, you're paying tens of thousands of dollars to get someone else to, to find you someone who you can pay a half a million bucks to, right? Like that's where it gets up to so that you can have them take off more of your time. Like, so that's where I think for business owners, we get used to making that calculation. And so we develop the habit that gets ingrained in us. And that's why, again, it becomes very easy to delegate and outsource. But because that habit is not ingrained, because quote, unquote, normal people don't do that calculus ever. And they do the opposite. They ingrain the opposite, which means when the denominator is zero, when it's free, this thing that you can outsource and you can delegate your time to. So let's say your time is worth a dollar. It is still worth having Chad GPT do it because it cost you zero if you're using the free account to have them do it. And everybody's time is worth more than a dollar. And yet they still don't use it. Not because they don't know how, because it's the easiest thing in the world to learn. They don't use it because they don't think to use it, because they haven't developed the practice and the habit of running the calculation of just saying, what is my time worth? And that's the thing I think is really, really sad. I wish more people did that. And I've got to do this with my own wife. My wife is like, ah, I can just do that. Like, she will still right now go to the grocery store instead of ordering shipped and, or, you know, Instacart. And I'm like, and she hates it. It'd be one thing if she just loved making trips to the grocery store and selecting her own produce.
- [24:29]
Roland Frazier
But she doesn't.
- [24:30]
Ryan Dice
She hate. Because she's like, it's, it's. It's too expensive. And I'm like, I'm woman.
- [24:38]
Roland Frazier
What?
- [24:38]
Ryan Dice
But, like, that's, that's kind of the. But that, that, that, that's there. And we'll, you know, I'll talk about it. Like, yeah, yeah, right. You know, I'll do ships, I'll do Instacart. But I, I do think that there's just a lot of people where that is ingrained in their mentality. And if that's who you are, if that's where you are. If you got those people in your life, yeah, you're going to struggle, you're probably not going to, you know, take over and you're not going to implement a lot of AI.
- [25:02]
Roland Frazier
That's funny. I love it. I love it. So what do you think as far as how people could use it better? Like so that, let's say that they are, they are using it as a Google. How could the older people who are, who are not using, who are using it like a smart Google, what could they do differently to get more out of it, in your opinion?
- [25:27]
Ryan Dice
I think the simplest shift that everybody could make is think about it from a role first perspective. So not a I want to ask this question to the Google machine, but who do I wish I had here just to do this thing for me? Right. What expert do I wish, you know, was here along my side, by my side that I could have a conversation with? So if you're out there and you're thinking about taking a, you know, going on an Alaskan cruise, don't you, you know, you'd go into the Google machine and you type in best Alaskan cruise. Don't do that. Who would you rather talk to? You'd rather talk to an experienced travel expert who had been to Alaska thousands of times. Well, guess what, Chad Beauty has, AI has. So you could say, hey, I need you to act as like a super experienced travel expert guru, especially in senior travel when you know, for Alaska. And let's talk about what it looks like to plan the perfect cruise and have a conversation with an expert. So think about it as a role and as freaky as it may sound, think about it way more like a person and less like the Google machine.
- [26:38]
Roland Frazier
Yeah.
- [26:38]
Ryan Dice
What do you think?
- [26:40]
Roland Frazier
Say that again.
- [26:41]
Ryan Dice
What do you think?
- [26:42]
Roland Frazier
Oh yeah, I agree with you. I think I pretty much always assign a role and tell AI who I want it to be. What's the Persona that I want it to step into for the interaction that we're about to have? I also, I like using it as an expert consultant. So I will start by saying I'm about to take. I'm thinking about taking a cruise to Alaska. What? I've already assigned the role. I'm thinking about taking a cruise to Alaska. What questions would you like me to answer so that you could create the ultimate adventure trip? So now I'm telling it what kind of specific thing I'm looking for. I'm looking for an adventure trip, not a sightseeing trip. That means I'm going to want to have Interactivity. But then I'm turning it back to it and saying you're the expert. You probably have questions that you would like to ask me. If you guys, if any of you are experts or even if you're, you know, just a non expert regular human. The best thing you can always do is ask questions to get clarity on what someone who's asking you for advice wants. And so I want it to ask me questions. It's, you know, it's probably going to say, you know, are you fully mobile? You know, can you walk and climb? You know, are you in good shape? Are you, you know, all those kinds of things.
- [27:57]
Ryan Dice
What's your budget?
- [27:58]
Roland Frazier
Right, and what's your budget? Exactly. And so then that's going to, it's going to ask me those questions and then it's going to give me an answer after I answer the questions. Now I need to say I need to start asking it questions basically. Like, you know, you mentioned that, that I should go snowshoeing. Is there any kind of special equipment that I would need for that? Maybe, you know, or can I, should I rent that or buy that? So, so you're having a conversation with the consultant that now has answered the question, you know, who that has access, excuse me, to the questions that it's asked you that it wanted to know. And then your prompt chaining, meaning that you're asking multiple prompts as you go through to create that. And here's my secret sauce that, that really, really makes a difference, I feel like in the quality of everything that I get. Once I'm done with all of that, I'll ask it another question. I'll say, is there anything in reviewing what you have provided me that you feel could be better or that I missed something or anything else that you could do to improve the answer you've got? It gives me that answer which causes it to go back and kind of think. And then I say grade the answer that you gave me above and give me and make, tell me whatever changes. Or I'll usually just say make whatever changes you feel are necessary to raise your grade to an A or A plus. And that dude, that gets me so much better answers. So it's like, that's kind of that process, I think, for like, for anybody, but definitely for people who are older that are using it as a smarter Google because you'll give it so much more context. Right?
- [29:48]
Ryan Dice
Yeah, the grade yourself, you told me about that, you know, a while ago. That is, that's a game changer. I mean, you're Right. Because it'll give you so much more detail. But the one you said before that you know what, what questions didn't I ask, but I should have kind of summing it up, going back to treating it like a person. That is the last question that you should ask anytime you're talking to an expert about anything.
- [30:09]
Roland Frazier
Right.
- [30:09]
Ryan Dice
Like, that's what I ask anybody if I'm interviewing somebody, if I bought a consulting time with somebody. I've got my list of questions, but my last question is always, what's the unknown unknown? Like, what questions should I have asked but didn't? That should always be your last question. And again, most successful people kind of know that. Like, I've taught that to my kids. Like, this should be the last question. I've taught that to my son in college. Like, if you're doing office hours with a professor, this is always your last question. So it's just treating it like you would the expert. That it is. I will also say every now and then you're talking to an expert and they explain something and you don't quite get it. It's fine to say I don't understand what you meant by that. Can you explain it to me in a different way? This happened last night. My youngest son is. He's got finals coming up, math finals coming up. And there was some math thing that he didn't understand. And I can't help them. Like, I don't know what the heck you're doing. Like, this is some pretty advanced algebra crap. I have long since forgotten about it. I'm like, let's take a picture of the problem and tell the ChatGPT I need you to act like a math. Like a, you know, eighth grade math teacher.
- [31:18]
Roland Frazier
Yeah.
- [31:19]
Ryan Dice
Without giving me the answer, explain to me how I should solve this. And the first explanation that he did, I was like, cool, there you go. He's like, I don't understand it. And I said, well, what would you say to your teacher?
- [31:30]
Roland Frazier
Right.
- [31:30]
Ryan Dice
I'd say, I don't understand it. Like, then say I don't understand it. Can you explain it to me a different way?
- [31:35]
Roland Frazier
Right.
- [31:35]
Ryan Dice
It explained it another way. He's like, I kind of get it. Cool. Say that.
- [31:40]
Roland Frazier
Right.
- [31:41]
Ryan Dice
Have the conversation and eventually it explained in a way. He's like, oh, cool. Yeah, I got it. So it's not a one and done. Like Google is.
- [31:49]
Roland Frazier
Yeah.
- [31:49]
Ryan Dice
Where you ask it and you've, you've got your, your, you know, page of blue links and either gives you what you want or it doesn't.
- [31:56]
Roland Frazier
Almost Never does.
- [31:58]
Ryan Dice
Yeah. Especially now. You can go back and you can continue to not just say what didn't I ask, but should, you know, grade yourself and make it better. But if, if it gives you something, you're like, I don't freaking get it. You don't have to linger in a lack of understanding. You can absolutely say, I don't understand what the heck you meant by that. Please explain it to me again in a different way.
- [32:21]
Roland Frazier
Yeah, I love that. It's, I like the. Explain it like I was a golden retriever. It's kind of the Alex Hermosi question or you know, the, the Reddit. Explain it like I was five. Right. Those are, those are super helpful if you're younger or more advanced in your use. A couple of things that I would say to think about. One would be that very often the answers you get are not true. They are made up because GPT and most AI is absolutely as confident as Ryan Dice and Roland Frazier are when they answer a question. It's, it's definitive answer, you know, not.
- [32:56]
Ryan Dice
I say it's a sophomore philosophy major. Yeah, it's super confident, but it doesn't actually know jack.
- [33:01]
Roland Frazier
It's just we're confident, right? You know, confident in our, in our ability to answer questions. So you want to verify and validate. So maybe ask for sources. Now the cool thing is is a lot of times now sources are being cited. So I cited sources at the beginning when I was, you know, when I was giving some data points that I asked Chat GPT for and I didn't have to ask it for, for sources and citations. But you definitely want to validate the data that you are getting before you put it out there as an assumed truth.
- [33:30]
Ryan Dice
And be sure to click on the sources too and validate. Not just that there are sources, but that the sources are real because sometimes it will hallucinate sources. It's gotten a lot better about that. It has, yeah.
- [33:42]
Roland Frazier
And then moving from one time questions with no context to contextual questions or contextual environments within the AI. So in Chat GPT and in, and in claude you can set up custom instructions or if you basically go to settings, there are kind of questions, there are things that will reside and I haven't done this with Chat GPT in a while because I tend to use CLAUDE for this more because it's got shareable things. But if you create projects in CLAUDE and then in the project put all of the data, that's the contextual data. So like now we're building master business environments that Already has. So I don't have to tell chat GPT anything about my business. It doesn't have to ask me a thousand questions. I can give it a 40 page dossier of here's my business, here's who I am, here are the employees, here's the org chart, here's what we do, here are our products, here are our KPIs, you know, et cetera, et cetera. Here are values, our culture and then this is how we hire, this is how we sop. These are the frameworks that we use for these things. Now it has all that, it doesn't need to ask me those questions because it's knowing that when I go in. So anytime I'm asking a question about that business and I have one for each of the different kinds of businesses that I have and for each kind of major hobby I have and I can go in and then I'm talking to a fully up to speed team member that knows everything about the business that I know, that you know, I think is relevant and that has the ability to access the frameworks that we refer to that we like to use in the business as well as the whole rest of the world's knowledge on everything that it's got access to as AI. So now when I say we're thinking about hiring or actually for your example, right? So I'm in the car and I get in instead of starting from scratch, I'm saying I'm in the environment of digital marketer, let's say that's what you were doing it for. And then I say, hey, I need to write emails using the, using our email AI process and I'm trying to write a series of emails to do 1, 2, 3, 4. Then you say, are there any questions you'd like to ask me before we get started? But it's got the whole context of the playbook of how you do things and that saves so much time and gets you so much better questions and it's replicable and repeatable. So I think that's a kind of a game changer. And then just on that real quick.
- [36:23]
Ryan Dice
Roland, to that end, what you can also do, and we're starting to do that these projects, instead of the projects being task oriented, you can make them role oriented. So you could say this is going to be my, my sales strategist where you upload all the information about everything and you go and have the conversation with the sales strategist and it already knows who it is. And like a good employee, it doesn't have to be reminded about everything every time. And similarly, if you're listening to this and maybe you're not a business owner, although you're probably not, but like, let's just say in your personal life you could say, you know, my health consultant, you could upload all of your health information to it. You could upload your panels like all that other stuff and just go every time and ask that one project, that one role about that. And so if you're thinking about it again, not from a task perspective, from a role perspective.
- [37:14]
Roland Frazier
Yeah, I did that before, but this is kind of the new evolution for me because the specific role, like if you have a role for say seven different people in your organization and you're using separate things, you, unless you're going to get into agentive conversations where each one is acting as an agent and having conversations with each other, which is, which is another level to go. Like the context is missing. So the, your sales expert isn't familiar with your culture and it might give you a different answer that isn't as robust as you would get if it has the full context. So I like the full context and I haven't found challenges in the early days I did, but I haven't found challenges with you know, 50, 100 pages of con of contextual material slowing it down. So I, I, I understand what you're saying and I think that if you're having multi agent environments where they are having conversations with each other that it makes sense. But even there I just think the big full context makes a huge difference. I think about this like if you hire an expert in sdr, you know, sales development, rep structure and hiring versus you've got one that works in your company, the one that works in your company has a huge advantage assuming that they're of equal levels of skill and knowledge in the field because it has the context or he or she has the context or they of the, of the organization. So I think it makes a difference doing that.
- [38:53]
Ryan Dice
Yeah, well, for each one of these roles you would need to, you would add that context for every one of them.
- [38:58]
Roland Frazier
But in which case then you don't really need to because then it's got all of it and then you can have it have the conversation. So they have different approaches and definitely you guys should split test it because we are and, and you'll figure out, you know, kind of what the best thing is. So I think that's it. If nothing else, just thinking about how can you use AI more effectively as a business partner is the way to get There having conversations, giving it context, asking it questions, asking it to ask you questions, prompt chaining, not letting the one and done Google mentality that allegedly people who are Ryan's and my age are doing and instead valuing your time in letting this be this super knowledgeable second brain assistant collaborative creature with you. And I also liked what you said a lot because we don't talk about this enough, but I do as well have conversations with the voice version because it's easy when you want hands free. I, I find that I think more organizedly if that's a word when, when I'm typing because I'll usually create my prompt in notes and then edit and then my, my question is more focused. But if I'm, if I'm doing anything, like if I'm going for a walk. What if you take ChatGPT for a walk and just have a conversation and I have conversations, have conversations about fun things, maybe even first before you get task oriented, you know, I'll talk to it about. There was just a big synthesizer event in Germany that just took place. So I'll be like, hey, what did you think of the synthesizers that got launched in Germany this last week? You know, and it'll be like, oh, you know, I like, you know, and it starts having a conversation. I'm like, oh, yeah, but that's, isn't that a lot like that one from 1976 that did this, that and the other. And it's like, no, actually the difference is. And then you're having an actual companion to talk to as you're, as you're, you know, walking or doing something. And it's a pleasurable thing. So it's not like don't think of just AI to do work and tasks. Think of it to improve your education and engagement and, and just learn more about the world. Any closing thoughts, remarks?
- [41:08]
Ryan Dice
Yeah, I agree. I mean, that's it. It can absolutely improve your knowledge of these things if you treat it like an expert, not like Google and not like just a personal assistant. Treat it like, treat it like the expert it is and you'll get expert level information. But also remember that sometimes even experts get it wrong. So do double check.
- [41:29]
Roland Frazier
I love it. Okay, so, so we were bouncing back and forth what the title of this was going to be. Before the show, I asked for some recommendations from ChatGPT. It gave me several and it came up with two that I like. So I'm gonna, I'm going to ask you, what do you like between Rich people use AI differently. Here's How? Or you're probably using AI wrong and it's costing you. Do you like either of those?
- [41:57]
Ryan Dice
I like the rich people one.
- [41:59]
Roland Frazier
Okay, all right. That's the one we'll do. Interestingly enough, it gave pros and cons and it said taps into status curiosity. People want to know how the wealthy think and act. Implies there's a secret or edge. Being missed performs well on platforms like YouTube, Apple Podcasts, and TikTok. Cons Slightly narrower appeal may alienate listeners who don't identify with wealth or ambition. But if you don't identify with wealth or ambition, this probably isn't the podcast for you, because that's kind of you already hate us.
- [42:24]
Ryan Dice
They especially hate you.
- [42:26]
Roland Frazier
All right, well, that's it for today. I thought a super fun topic. If you guys have thoughts, comments, questions, feelings or emotions, please share them with us on the socials. We are available at Forward. Slash our names on pretty much every platform and we'll see you next time on the Business Launch Podcast. Hey, Roland Fraser here. If you're looking for a way to grow your business exponentially to get more customers and ultimately increase your wealth, there's no faster way to do it than to acquire other businesses that already have the customers, products, services, teams and media that you want. If you want to double your sales, just acquire a company that has the same sales as yours. It sounds simple, but far too many people end up starting new businesses that fail and forget that they could skip all the hard stuff and just acquire one that already exists. There's a reason why private equity firms, family offices, big companies like Apple, Google, and some of the smartest entrepreneurs on the planet do not start new businesses from scratch. They acquire already successful businesses and when they do it, they instantly increase their sales, their profits. If they want market share, they increase that. They can get new products and services to offer, all instantly. Hey look, 90% of new businesses fail. 90%. Why not acquire an already successful business and increase your chances of success by 900%? What most people don't realize is you can acquire highly profitable businesses with no money out of your own pocket in pretty much any country in the world, regardless of your credit and without having to go find a bunch of investors or needing any experience. Look, I've been acquiring businesses for over 30 years now and I cover the whole process in my EPIC Investing Strategy training and I want to give it to you 100% free. Just visit businesslunchpodcast.com epic to get your free access to my EPIC investing training right now. While it's available.