AI's productivity gains will be far bigger than those from the personal computer and the internet, because AI applies to essentially all knowledge work and expands the overall economic pie rather than just cutting costs.

49:57this is bigger because it is essentially all knowledge work and uh I think I think it's an expansion of the pie right it's it's really easy to figure out what will be more efficient and how you can reduce costs uh but you know if you go back 20 years ago it was very hard to see where the new jobs would be. I think we're in a similar situation here as well. Uh I do

50:28I do think it will be expansionary for the overall economy and for prosperity and for well-being and human potential broadly across all domains whether it's in education, health, societal outcomes etc. Uh but yeah, this feels this feels bigger. >> I remember in 2001 2002, Michael, some companies that were early to, for example, Google, they figured out how to gain, you know, like I think a booking.com, right? They figured out how

51:02to arbitrage the internet and Google to build this giant business, right? And so I would say like they figured out productivity gains before the next person and and and that was hugely advantageous. And when you say that only 10% of companies are are leveraging this today, it kind of sounds like the same thing, like the early companies are really there, but there's a huge amount yet to come.

51:26>> Well, you know, I think I think a I think about the big companies in the world. I'm talking like, you know, 10 billion plus revenue companies, uh, you know, uh, 50 billion, 100 billion plus revenue companies. These companies have an incumbency of sorts, right? They have data, they have customers, they have brands, they have IP, etc. But if they don't move quickly to reimagine their businesses given all this technology,