In this episode, Will sits down with Freda Duan, investor at Altimeter Capital. They explore critical topics such as the energy bottlenecks in AI development, the future of AGI and ways in which we may have already achieved it today, and the future role of AI agents. Freda also discusses the capital expenditure trends among big tech companies and the nuanced competition between open source and closed source models. 🔥 Apply to join over 400 founders and Execs in the Turpentine Network: https://hmplogxqz0y.typeform.com/to/JCkphVqj - RECOMMENDED PODCAST: 🎙️ This Won't Last Eavesdrop on Keith Rabois, Kevin Ryan, Logan Bartlett, and Zach Weinberg's monthly backchannel. They unpack their hottest takes on the future of tech, business, venture, investing, and politics. Apple Podcasts: https://podcasts.apple.com/us/podcast/id1765665937 Spotify: https://open.spotify.com/show/2HwSNeVLL1MXy0RjFPyOSz YouTube: https://www.youtube.com/@ThisWontLastpodcast - 📈 ECON 102 W/ NOAH SMITH - Keeping econ entertaining - Noahpinion author Noah Smith and Erik Torenberg break down business news and politics every week. Spotify: https://open.spotify.com/show/3Mos4VE3figVXleHDqfXOH Apple: https://podcasts.apple.com/id1753399812https://podcasts.apple.com/id1753399812 -- LINKS: https://x.com/fredaduan X/SOCIAL: @WillSummerlinAI (Will) @fredaduan (Freda) TIMESTAMPS: (00:02:32) Energy consumption in AI data centres (00:05:20) Challenges and solutions for energy supply (00:09:00) Cooling and infrastructure innovations (00:12:10) CapEx and ROI in AI development (00:20:22) Open source vs closed source models (00:25:21) The rise of XAI and smaller models (00:27:35) Economic risks and historical parallels (00:29:54) Investment cycles and AI's future impact (00:36:13) The AI agent revolution (00:38:16) Debating AGI and its implications (00:48:15) The future of AI-driven industries