00:00We bought Napster. We bought it from Algorand and a series of investors a little over a year ago.
00:06And we really wanted to transform the brand.
00:09You know, Napster was streaming music and really revolutionized that period.
00:13And now, you know, we're streaming intelligence.
00:16And so we really felt like we have a product that can revolutionize that,
00:21or at least start asking a lot of the questions that should be asked right now.
00:25All right. So what does that mean, streaming intelligence?
00:28I know you still have a music aspect of the business, but talk us through what main things you're trying
00:33to do.
00:34We really want to connect our customers, audiences, and folks directly to a human form of AI.
00:44And, you know, AI really is about intelligence.
00:48And so to have a conversation with AI, we think, is super important.
00:52So we've created a product where you can do that.
00:56Is the goal to make it more palatable?
00:58Is the goal to make an AI interface for humans that feels more human?
01:02That's right.
01:03And I think that, you know, right now, AI is very much in this prompt phase.
01:08You kind of type something in and then read and type in and then read.
01:12And it's so much, you know, more powerful when you can have a conversation.
01:17And I think the learning is easier as well in a conversation, which AI is a great tool for learning.
01:23It's not just a tool that answers things.
01:27It helps us sort of become smarter.
01:29So give us some use cases.
01:31What are some examples you can give us about how this is being used?
01:34Well, I mean, we've created hardware products, not just software.
01:38So we've created a Napster station, which is this very powerful tool that allows for you to go into a
01:46retail store and talk to this digital agent.
01:50And that same agent can live in an immersive website where you can talk to them on the website.
01:58And so the conversation on a website is very powerful.
02:02And that same agent can remember you in the store.
02:06So sort of think about it as there are three very, very important factors that AI brings to the web
02:15that disrupts it.
02:16The first is the ability to qualify a customer.
02:18Why are you coming to the website?
02:19What are you doing?
02:21What are you looking for?
02:22The second is to be able to price match other competitors and show how you're different.
02:27And the third is that customer service aspect.
02:29We've all had things that arrived that may not be what we wanted, the size or the color.
02:33And so to be able to talk to a human during those three steps is very important.
02:37But it's not a human.
02:38Well, but it's a human intelligence in the sense that all of these products and everything are created by us,
02:46right?
02:46And this AI persona that you're having this conversation with is simply looking at all the things and the knowledge
02:54that's been collected in a way in which it can help and deliver a better service to you as the
02:59customer.
02:59So it's totally an aid to the customer experience.
03:02What are you doing about privacy concerns about that?
03:05Because that's a lot of information and the Internet is forever.
03:07And, you know, just like you purchased Napster, someone could purchase you someday and they then have access to anything
03:12I've been talking to your therapy bot about, anything I've been talking to your health care bot about.
03:17How do you address concerns like that?
03:18Yeah, so we have been at the forefront of making it clear that customers and businesses should own their data.
03:28In fact, we think that data ownership is what preserves humanity.
03:33When you turn an idea over to a machine or you turn an idea over to a corporation that owns
03:43that machine, you're also turning away innovation.
03:45And so everything at the core of our company is about everyone owning their ideas, owning their data, owning the
03:53platform, even owning the intelligent beings that they create.
03:58Because ultimately, that is preserving humanity.
04:01Before I let you go, we do want to ask you about the Napster legacy, which is still part of
04:05the company because you do have a music portion of the company.
04:09What does that do and how do people use it?
04:11It's got to be AI.
04:12It's got to be.
04:13It is AI.
04:13Of course it is.
04:14So it is.
04:15And, you know, we see AI as helping everyone become a creator.
04:20And so you can now create your own AI artists.
04:24You can listen to other people's AI creations.
04:27But if you create your own AI persona, you actually own the music.
04:32You own the persona.
04:34They can create podcasts.
04:35And they can actually live these lives and fans can interact with them and follow them and really engage with
04:45these AI personas in a very unique way.
04:48But you as the creator, again, idea, innovation, you own all of that, 100% of the revenues, 100%
04:55of all of that because it's your creation.
04:58And so, you know, we believe that that music model shift is something that's super important.
05:05It doesn't take away from people creating music or the love of music.
05:09But we think that there's this new model that needs to be done.
05:13And we think Napster is the right one to do it.
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