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Jaden Schaefer
Welcome to the AI Chat podcast. I'm your host, Jaden Schaefer. Today on the podcast, we're talking about the fact that Perplexity has allegedly just raised a massive new $500 million round. If you're watching this over on YouTube or Spotify, you can see the videos and the visuals. I'll be sharing my screen and breaking down exactly what's going on. If you're on Apple, check out the link in the description to the YouTube channel. And you can also see that. All right, so what is really impressive is not just the fact that Perplexity, in my opinion, has raised this $500 million round and warranted. I'll say that they've refused to kind of comment on the story, but. But this is essentially the rumors coming out. This closed in December. But what's interesting to me is that they are also actively acquiring companies. They're not slowing down. We'll get into all of that in the podcast today. I think this is an absolutely fascinating story. Before we get into it, I wanted to mention if you've ever wanted to start an AI side hustle, or grow and scale your current business, or however you make money using AI tools, I would love to have you as a member of the AI Hustle School community. We have dozens and dozens of videos. We have over six different courses that break down exactly how I have been able to do that. So every single week, my co host and I, Jamie, we release an exclusive video that's essentially covering a tool, a strategy. How much money we make, what tools we use, what exact side hustles we use, how we're growing our businesses, all the stuff we can't share publicly, really exact numbers and tools and workflows all inside of this. Inside of this AI Hustle School community. And we create courses and videos breaking it down. It's $19 a month. We have a holiday special. Last month it was a hundred dollars, but as a holiday special, we're making this $19 a month. So if you've ever wanted to join, this would be an amazing time to do so. You can get a link in the description to find the AI Hustle School community. Join our incredible community. Join our incredible classroom. Get a lot of amazing stuff every single week. Okay, let's get into the podcast. So Perplexity, They've raised this $500 million round. What is their exact valuation? This values the startup at $9 billion. This is absolutely incredible to watch how fast they have been growing and actually moving. So all of this apparently was reported by Bloomberg who has a bit of an inside scoop on this allegedly. So this will be interesting to see how this continues to roll out in the future. So they were apparently citing some familiar sources which said that the lound the round was actually led by Institutional Venture Partners. It closed earlier in December and they're still being pretty tight lipped about it. No one wants to talk about it, but this huge new tranche that they've just pulled in is coming as this whole area is really heating up. Right. So Perplexity is known for being kind of this competitor to Google in the AI space with a lot of their AI tools. But they're not the only ones doing this. Now Google is trying to compete more heavily with them. OpenAI recently launched their ChatGPT search which, which is, you know, trying to be a competitor to them and they got quite serious about it back in October of October 31st on this. Now I would say they have a lot of really cool things over on Chat GPT that they've started to add. For example, restaurants. If you do like a search for the best restaurant near me, ChatGPT is now able to give you like much more what you'd call rich results. So you can imagine, you know, there's like images. So if you search for something like, you know, best food place in Toronto, for example, hopefully that works because Canada has some interesting laws. But in any case, typically, yeah, okay, Toronto is a bad example. By the way, I'm live asking ChatGPT this while I did this and they did not want to give me. They didn't want to give me anything. Actually, you know what, here's a real problem on Chat GPT right now and it says that search is unavailable anyways. Maybe that's because I got started with 01. So we've got to go to an older model to be able to use this and see in any case. All right, so if you ask for best food places near me, ChatGPT is now adding some images. All right, I tried it again and I, you really have to know exactly what to how to work CHAT GPT and this is actually a perfect example of why Perplexity is doing good. So, so this, this whole thing that I've just been talking about, I, I initially went to ChatGPT and I said best food places in Toronto. It just gave me kind of like a list of some places but no pictures. It's just a basic ChatGPT response with text that you would typically expect. And that is because ChatGPT by default had me selected on their 01 model, it's the most advanced model but the problem is their most advanced model doesn't have the search built in. So I had to go manually switch to go to GPT ChatGPT4.0 go and select to have search enabled. And once I did that and made a search, it pulled up this really cool looking map which had, you know, cited sources which you could click to get directions, you could go to their website, you could call them, you could kind of scroll through a bunch of different things. It feels very Google, very search engine esque. There's a lot of like really cool, you know, there's a lot of really cool things. If you click on getting directions, it's going to open you straight up to go and actually get directions on maps. So that sounds awesome, but the problem is I had to go jump through a bunch of hoops and when I did my first search it didn't just automatically give me what I wanted. So I think for this reason Perplexity is still going to be beating ChatGPT and I don't think it's going to be this huge competition because you can imagine like people aren't going to want to click through all of those hoops. Perplexity really is streamlined and so I think this is going to be open AI really would have to fix some of that to, to, to solve the problem. So I don't think that's going to be an issue. Anyways, there's a, there's competition. ChatGPT is doing this, Google's doing this. But Google might actually do something new which is a little bit maybe scared for Perplexity, but we'll see. I think Perplexity so far has been pretty far out. And ahead the information this, this week reported that Google is planning to, to take a little bit more of a approach where they're going to be creating actual chat bot, an AI mode that's built straight into search, that's super, super integrated that hopefully is going to compete with Perplexity because up until this point we've seen, you know, Google add some AI summaries at the top and ChatGPT sort of added GPT search, but nothing really competing with Perplexity as I've just demonstrated live on here. And so I think this is a big issue for a lot of these players. Perplexing really is just scooping up a ton of market and I think that, you know, some of the big players are getting quite concerned about this. So with all of this being said, Perplexity is not just resting they're continuing to go, and that is because they've actually went and acquired a new company called Carbon. This is really interesting. This is kind of their. One of their first acquisitions. But Carbon is essentially helping you to connect AI search to your work files. So you can imagine, right at your office, right on your computer, you have all these files. You want to use AI to search through them all. And Carbon is helping you do that. Perplexity now helping you do that. So you can imagine with Perplexity, you can search, get an incredible search engine, but at the same time, you're searching through all of your local fire files. This makes it so much more competitive, so much more useful. And when a company like Google comes out, Google's trying to do this in their own way, where they're letting you search through, you know, your Gmail and your Docs, maybe with some of their Gemini assistants, but they're not going to have the local files on your computer, maybe PDFs you created in Canva or other places and downloaded, or Microsoft files. And so Perplexity, getting all the access to this, I think, is going to be a massive game changer. We know that most companies do not use Google, you know, free suite, usually it's different tools out of Microsoft, like PowerPoint and, you know, Microsoft Word and all of that kind of stuff. And so I think this is going to be absolutely massive. I'm super excited to see where this goes, and I'll keep you up to date on all of it.