No Priors: Artificial Intelligence | Technology | Startups

Baseten CEO and co-founder Tuhin Srivastava sits down with Sarah Guo and Elad Gil to discuss the rapid growth of AI inference demand, Baseten’s 30x growth, and why inference is becoming the strategic “last market.” Tuhin Srivastava argues the application layer will persist because companies with unique user signals can encode value into workflows and post-train specialized models, citing examples like Abridge and support workflows. The conversation covers GPU capacity constraints, Baseten’s multi-cloud fabric across 18 clouds and 90 clusters, long-term contracting dynamics, the importance of the software layer for stickiness, evolving workloads, multichip possibilities, and operational lessons at scale.

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Chapters:

00:31 Baseten growth

01:55 Why the app layer wins

05:57 Serving frontier customers

07:55 Open source model mix

09:21 Chinese models and geopolitics

13:07 Custom inference dominates

14:22 Post training acquisition

17:10 When to invest in custom models

18:35 Supply crunch and data centerse

22:25 Longer GPU Contracts

24:09 What Makes a Winner

26:07 Multi Chip Future

28:19 Runtime Roadmap

31:08 Scaling Edge Cases

33:48 Hiring and Leadership

36:44 Operations Pager Culture

38:19 Efficiency Drives Demand

40:41 Concierge Everything Future

42:34 Conclusion

More than fifty years ago, the modern idea of the standard enterprise software was birthed at SAP. Now, after managing companies through technological shifts from the mainframe to mobile, SAP is at the forefront of closing the AI adoption gap for their customers. SAP Chief Technology Officer Philipp Herzig joins Sarah Guo to talk about how SAP has remained a durable end-to-end “operating system” for its more than 400,000 customers from finance to supply chain. Philipp argues that the AI transition in businesses should focus on customer outcomes, UI changes, business processes, and the data layer. He also explains the challenges in enterprise AI adoption, including security, scaling, and data fragmentation, as well as the importance of evals and verifiability. They also discuss SAP’s suite of AI products, limitations of predictive tabular models, how SAP is shifting its pricing models in the AI era, and Philipp’s interest in quantum computing optimization.

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Chapters:

00:00 – Cold Open

00:42 – Philipp Herzig Introduction

01:18 – What SAP Does

02:51 – Why SAP Endures

06:53 – CTO Priorities and AI Push

12:14 – Scaling AI in Enterprise

17:06 – Verifiability and Agent Mining

20:42 – Tool Calling vs. Computer Use

22:11 – Domains Where Agents Deliver Value

24:58 – Limitations of Predictive Tabular Models

29:07 – Barriers to Enterprise Adoption

31:54 – How AI Will ‘Uplevels’ Work

34:03 – How AI Changes SAP’s Pricing Model

36:41 – What Makes a Winner in the AI Era

38:53 – Day in the Life of a CTO

40:08 – Customer Challenges

42:36 – Business Problem of Quantum Computing

46:21 – Conclusion

Few teens are business owners, but by age 16, Bill McDermott had purchased and was running a local deli. Now he runs leading global technology powerhouse ServiceNow, a company that is defining how the world’s largest organizations transform for the digital age. Sarah Guo sits down with ServiceNow CEO Bill McDermott to discuss his journey from child entrepreneur to CEO, and how he navigates his role as a leader in the age of AI. Bill argues that human connection is still a vital part of being a successful leader, and as such, AI must be used to serve people rather than substitute for ambition. He breaks down the mechanics of hyper-growth, and the art of staying customer-centric at a global scale. They also discuss the future of enterprise software, how generative AI is fundamentally reshaping the labor market, and what founders need to know about building a resilient company culture that survives economic and technological shifts.

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Chapters:

00:00 – Cold Open

00:50 – Bill McDermott Introduction

01:14 – Lesson from Buying a Deli

07:35 – Leadership in the AI Era

09:41 – How Bill Got Hired at Xerox

15:47 – Can Agency Be Taught?

18:40 – Seeing Change as Opportunity

25:18 – ServiceNow as an AI Control Tower

30:30 – Which SaaS Gets Disrupted?

32:22 – Defining a Platform Business

36:25 – Does AI Decrease Implementation Time?

39:06 – Agents Will Reshape the Workforce

40:59 – Success Signals at ServiceNow

44:07 – Enterprise Attitudes About AI

48:41 – How AI Has Changed Customer Conversations

50:48 – Bill’s Curiosity Beyond ServiceNow

52:29 – Day in the Life of a CEO

57:27 – Conclusion

AI agents can already collaborate, but they lack a trustworthy medium in which to store value and execute contracts. Enter Circle’s Arc Blockchain, an economic “operating system” designed for a world where machines drive the real economy. Circle co-founder and CEO Jeremy Allaire joins Elad Gil to dive into the future of programmable money and the agentic economy. Jeremy explains why traditional banking fails to support the needs of AI agents, and how stablecoins like USDC facilitate an internet-native economy. They also discuss the tokenization of real-world assets, the move toward full-reserve banking, and Jeremy’s predictions for double-digit GDP growth as AI and blockchain reach their “broadband moment.” 

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Chapters:

00:00 – Cold Open

00:05 – Jeremy Allaire Introduction

00:21 – Origin Story of Circle

02:11 – Rethinking the Financial System

05:26 – The Role of Stablecoins

09:52 – Use Cases for USDC

11:30 – Programmable Money 

12:25 – Blockchain as Operating System

14:37 – The Agentic Economy

17:45 – Arc Blockchain Use Cases

27:00 – Scaling Models and Privacy Tech

30:45 – Securitization of Other Assets Under the Blockchain

34:16 – Prediction Markets

35:09 – Incremental Revenue Through GPU Usage

37:19 – Jeremy’s 10 Year Future Vision

41:12 – AI and GDP

44:00 – Conclusion

What happens when you apply the scaling laws of large language models to the physical work of atoms? Elad Gil sits down with Liam Fedus, co-founder at Periodic Labs, which is pioneering an AI foundation lab for atoms. Liam discusses how he pivoted from dark matter physics research to the front lines of artificial intelligence, including stints at Google Brain and working on ChatGPT at OpenAI. He talks about how Periodic is connecting massive language models to the physical world to overcome data bottlenecks in material science. Liam also shares how they use language models as an orchestration layer operating alongside specialized neural nets to run closed-loop physical experiments. They also explore the future of AGI and ASI, as well as the role of robotics in lab automation.

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Chapters:

00:00 – Cold Open

00:05 – Liam Fedus Introduction

00:39 – Liam’s Background at Google Brain, OpenAI

05:14 – From ChatGPT to Materials and Atoms

06:34 – Training Data in the Physical World

09:52 – Generalization Across Domains

11:31 – Models as an Orchestration Layer

12:48 – Commercialization and Business Model

16:10 – How Periodic’s Success May Shape the Future 

17:45 – Multidisciplinary Scaling

19:41 – Capital and Compute

21:12 – Hiring at Periodic

21:44 – Thoughts on AGI and ASI

23:30 – Timeline for Machine-Directed Self-Improvement

25:39 – Automation and Data Generation

27:59 – Why Liam is Excited About the Future of Robotics

29:25 – Conclusion