Alex Karp's anti-frontier-lab pitch is essentially the same enterprise lock-in sales strategy IBM used for decades with mainframes: sell an inferior, sheltered, owned-and-controlled solution to companies wary of dependency, and it can work for a long time even against superior alternatives.

64:01change that they're on Microsoft teams it's basically impossible right um And you can it's the same it's the same selling point. The the problem is I think for some industries if they're sheltered by government regulation they get stuck right like as banks are banks cannot really easily migrate or have not traditionally been able to easily migrate to better software vendors. So they get stuck in cobalt or

64:30they get stuck in these in these things. So, Alex Karp is like IBM now. He's basically trying to sell lock in to enterprise into these older inferior products and uh he and it and it works. I mean IBM has had a business for years, right? Like for 30 40 years they've been servicing mainframes while everyone has else has moved to cloud servers, right? So it it can work. uh and the the the

65:00key difference is that the AI can also do migration much more easily. So the cost of migrating is lower. So he's got to push the trust angle. The cost angle is not going to be enough. He's got to push this trust angle in order to uh maintain. But you know they'll come up with new things. They'll come up with like oh you can manage your own singleton inside and you know the the

65:21claw singleton outside will just come in to do maintenance on your singleton once in a while. like people people will will find like sales strategies around this stuff right so uh it's going to be a battle it's going to be a battle uh and but you know the firms these frontier labs have raised so much money and there's only two ways you either eat someone else's lunch or you create new

65:45abundance and as long as like the new new abundance seems slow they're going to eat someone else's lunch they're they're just going to drink the milkshake right at all. Do you think he's right about the attitude? I mean, when he says companies don't like the Frontier Labs and they love us, uh, obviously he's talking his own book about how much they love Palanteer, but do you think that they really don't