I am a partner at 8VC, our investment fund [www.8VC.com].Previously, much of our team at 8VC helped us build Formation 8, which was one of the top performing private funds in Silicon Valley and still manages over 1.5B across multiple funds. We are still working closely with a lot of these entrepreneurs, and continuing to learn from them.I co-founded Palantir Technologies in 2004, one of the world's most impactful multi-billion dollar software companies. Palantir's systems are used to solve problems that are existential for our civilization in a number of industries, and we are also proud of its global philanthropic work.Founder of Addepar in 2009. Addepar's team is fixing multi-trillion dollar segments of global finance with our open platforms -- the company is growing rapidly and I am an active Chairman.Founding Chairman of Affinity, Zanbato, and OpenGov, and Chairman at ONEHOPE Wine.View the profile
About the talk
An entrepreneur, investor and philanthropist, Joe explains how advances in data collection and applications are changing everything we know about how the world works.
So do I just read recently that like the top 20 or 30 smartest guys or something in the Silicon Valley on some list and I have a lot of smart friends. That's how it works around. We were at Facebook yesterday and asked me why is all this happening is Silicon Valley. I said, I think it's brainpower. So if you're right up there you got you got more than eighty eight billion neurons, but it really good to have you and what I'd like to talk about some things you're actually invested in real estate. You're an investor. You've been an entreprenuer.
This is one very wicked smart guy. You're working on some stuff that I was just really like future driverless cars. This thing called The Loop the Hyperloop. Let's talk about that because we'd like to tell this industry like what's around the bend and let your imagination run wild but this stuff isn't is an imaginary anymore, but tell me about explaining the Hyperloop. And how that could really expect a change real estate cuz it's pretty profound Sure, some of our big investors in the Hyperloop or actually large real estate guys. I liked Elon Musks' explanation of it. It's kind of a cross between the Concord
in a railgun in an air hockey table and basically what it is if you take high speed trains in your wrap them in these steel cylinders and they get rid of the air so they can go a thousand miles per hour without friction. 1700 miles, we're not sure what happens when you cross the speed of sound inside the tube so we're not going to do that for the first one We think we're going to have a working prototype in the first quarter. So we raised about 120 million dollars
for it and have a lot of about eighty or ninety just really amazing engineers down there working on it and building things. So I'm more of a computer scientist. I can't tell you for sure if it works or not be a lot of my smart as friends are pretty excited about it. And it's where were they beta launch this the Bay Area? In Nevada, that's probably safer. In America, there's an extra kind of 5 or 10 million dollar fee for any big infrastructure of the way the government works if that's probably going to happen. In other parts of the world first, you know, when Hong Kong
built their Subway, they funded it based on a change in real estate values and so similar for hyperloop. You can probably find this based on how changing the value of land and in the neighborhood where it goes on and on what you need volunteers. I'll do it. My mom was very adventuresome when the arch was built in St. Louis. You want to be the first person in the elevator and the arch so I went with my mom if she was scared to death of elevators. I was scared to death. This was unbelievable. And of course it got stuck but I'll try this out of the first one that I have an old person
if they don't risk the life of a young person What could happen once this happens that you can travel 1000 miles and in what is the San Francisco another major cities? They used to be if you're really in the lower wrong and you want to climb you move to say to you work your way up. You can't really do that anymore. So it's really unaffordable cities in soda to make it so you can live 2 hours outside of a city and then boom you're there in 5 minutes that would totally change
that for me and then you're invested so that you say big real estate people are looking like these are the next cities. We might build out like we're burning man is that you can build it all the sudden are part of San Francisco, even though they're much farther away. You know, where around New York. That's why it's interesting to tell me about Mars face. This is all happening. Right this this is not imaginary the right. I mean, it's it's it's going on. Right there. There's a lot of crazy people trying things right now. I think I think
there's a lot of confidence in this area which is fun and not everything is going to work. But I think it's good for Humanity that we're pushing. Is it scary at all that we're giving up on Earth that that's why all you rich Silicon Valley types of trying to escape are you say Healthcare is become a computer problem to solve. I love that quote. I get a lot of talks about health care of relationship the real estate. What are you working on there? I I find that quote really fascinating sure. What is a couple different areas of healthcare where computer science is
playing a huge role right now. I think the nurse a pure science you mean Cancer used to purely be a biological problem and I understand and learn about it what's happened? If you suddenly have just massive amounts of data about cancer about the genetics of all of how cancers changing about microbiome that says all this stuff is now an information problem. Understand it better yesterday the information and so it's so it's so there's a ton of new test coming up the color genomics. For example, you could ask and you can learn very clearly if you have a high risk of cancer
or not and it changes about how you how you do things is our company that you take a little bit of your blood in you can measure if you have cancer or not and what type of cancer it is. So it's all becoming something on a computer scientists are working with kind of biologist notice all these problems not even very rare to have like truly top computer science team what's really needed Silicon Valley kind of pushed the boundaries and information technology does companies like Google like Facebook and now you're combining that and going back and working with these biologist a mighty
in Sanford and other places and you're still having some really great problems with that are really important that is similar like going to Mars like let's get together and then cure cancer is that mean does that the vision is understood the last last 10 years a lot of being made in this is he's using the best and brightest for multiple fields. He said you've made some real estate Investments. Tell you're from the outside. You probably own a couple houses. You're rich guy. What what's your why the heck did you eyeball reloadable real estate
technology. I think it's really interesting one at one of our big seems as an investor and it's similar to the companies. I've built like a panel turn at a park is that we're trying to extend human ability not replaced people. So the idea is to the question what are computers better at and what are people better at stake Silicon Valley often times make is it when it first jumps in not knowing anything. It says replace people and I've been really impressed by a handful of companies that are saying here's what people are Asians are good at be here till we can help them here so we can augment
their ability and stuff and what are some of those companies early? I'm bringing jelly beans but really excited about about about what we're doing there and how you know, how they can really kind of kind of Save-A-Lot time. I can be there partner. Basically, I think that's a great one. There's a lot of other Dealpath is is helping me. I was helping close both commercial kind of transactions real estate making a lot faster on lawyers and they have a space works. We had in the headline something about I guess
the company you started palantir working, I guess with the CIA NSA and big data. And is that true? What's that? That sounds very brief PayPal the Chinese and Russian. Mafia were stealing all her money in about eight of our competitors went bankrupt all this town or fraud online and I was 2000-2001 as we got to know a lot of people in the government FBI Secret Service really? Well and after 9/11, they spend huge amounts of money on their technology. But if they're spending money at with my kind of integrators from DC and turned out to be a lot more
advanced and so they had a bunch of kind of blow up some bad news of technology. And so we started something to take what we learned of the valley and kind of partner with him to use information better Detective. 38th and Wright right now Palliser Powers about 25 country is kind of information systems for intelligence and defense that was that was that was something it's been a long time on deer like this big badass security clearance actually really inconvenient. Cuz every time you travel you got it like fill out for him to never show that man James Bond movies details like
some government secret. I'll tell you one of my friends works until and last summer. They NYPD Isis cell and then like two weeks later. You have a Paris attack and I was like, wow, that's really cool that they're using a child affect us and we don't always hear about that in the news cuz your sense of this. Yeah get around. And working with those agencies and all this terrorism. Is this some is this a problem we can solve with computers. Do you think and let me just ask you the hard one, which is giving up her personal freedom giving accept apple pie. How do you feel
about all that? Well, that was a goal of the company is sometimes sometimes it's not always a trade-off. Sometimes you take what's legal and what you have and use that data better and then let the key thing for me. And for a lot of our team was building in a way where no matter what the rules are you can watch the Watchers and you can go in and say how did they use this data who touched what did they break any of the rules and Penny? I'll try to make sure they're only doing what they're allowed to do it because if you don't have good systems, then you get like the Jack Bauer 24 describing
stuff you legally to try to solve things, right? Cuz that's what you try to do if there's going to be an attack but it's really important to put in their play rules and have the technology to make sure you use it correctly and end in to protect us from the Terrace but also protect her from the from the bad guys and governments are scary. What's the thing right now that are in Silicon Valley? What's the latest greatest thing right base excited about the UC? Mini. Artifact is its ass is it what is it was a lot of
Nigeria right now and it may be placing bets are you know week? I kind of see it almost like the cloud the cloud companies use but it's not something that I bet on directly. So we have a lot of company for the break-in NFL teams, but it's only really a couple pure artificial intelligence test. If it is interesting to me is this is mostly like a new thing everyone have to learn how to do. So even real Scout for example has had some really great machine learning people categorize like that in a way that is used for patients with things like
that to you kind of get good at apply your company's you say pure you mean that's your plan would be like, there's like a lot of crazy groups of people log McGregor friends of mine. The one I like build AI to change the world by by being smarter than us and replacing Us in there. They're trying to build up your artificial intelligence. And what were those groups called deepmind and Google Technology is a lot of things pretty good, but they actually haven't saw that I had of course. In Whittier with your son's cuz I gave it talk in the beginning that this we are distinctly different in
special and bit me because if it's not then it's almost like what are we doing? Cuz it's just going to replace us anyway, so I like to at least pretend it's like a couple hundred years away and we'll hopefully hopefully it is otherwise, otherwise, it's pretty scary world child to be a delinquent. So he shoots and kills you later. You would want to date. It's a little bit scary people working on. I mean, I'd Larry Page was joking to my friend at a party that if something is going to happen and he's the one who controls it. Oh wonder about
these things. I read about this button. They're developing where they can hit a button and just stopped at all before it gets out of control. Is that both computers going to be probably figure out a way around the button. So it's just appointed the Bots are everywhere and now they're a little like terrorist cells are not like one Central Computer like killing the IBM Mainframe. This is like, they're everywhere and they're part of author fortunately really stupid that right about the bus at the boss or something. We're using
to do really basic things. And so are you doing I am really optimistic? I think I think there's a lot like the late 19th century. Were you had all these technological change and you had you know, William Jennings Bryan was was running in 1896 and I was the last election we had this many undecided people in this much controversy and you would like to try some gold guy standing up for all the small farms have been wiped out and our country with this really in a tough time. Thanks to all the changes going on in it. I think I think it's something a
little bit. We can keep innovating and and not break things. Then we're going to have a really good you have several decades ahead. By the way gang. He is radiating so much Brilliance. I can feel the heat on my face. Keep up the good work.
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