What do we make of his reforms now they've bedded in, Peter?

I think I, I agree with everything the Baroness was saying, actually.

And I think, um, I, I saw Katharine Birbalsingh post on X yesterday, a really important point, that in kind of two thousand and nine, about forty percent of the cohort didn't pass, whereas it's now around about thirty to thirty-five percent.

And I think it's really important to recognize the Gove reforms.

They made exams harder Um, they, they, they removed the kind of the, the gaming of, uh, resits.

Um, you know, back in sort of two thousand and nine I was an assistant headteacher, uh, and, and we were putting children in four, five, six, seven times to, uh, resit maths and English.

And actually, the exams have got harder since then, um, you know, but they're more focused on kind of knowledge rich, um, which has delivered these results.

Pickup fees may apply.

John, I'd like to, uh, hear a little about you, and then, uh, we'll unpack things.

Sounds great, Greg.

Um, so yeah, personally, quick background, I grew up in downtown Chicago, um, went up to University of Wisconsin for undergrad, uh, on a football scholarship to play football at Wisconsin.

Played there for a few years.

My quarterback coach that recruited me ended up leaving to go to the NFL, and that led, uh, me to transferring out to Yale University, where I played three years at Yale.

And my senior year, I was economics major, and, uh, we had to do a seminar within our major, so I ended up doing my seminar, um, working for and studying under a gentleman named David Swensen, who ran Yale's endowment.

And, um, you know, David was a dear friend and mentor of mine, and for me, that was kind of my first taste of the investment world.

What would be some advice that you might have for people in similar situation who are, you know, embarking on this and maybe things that you can't read an article and know that you learned through experience? Like, you know what? Be sure you do A, B, and C for either of you gentlemen.

Mm-hmm

... um, or make them more nutritious or safer to eat.

And, um, and, and I think that the impact on food, I think, to your point, is going to be really, really profound in the coming years.

Um, but, um, you know, on the materials, uh, design, uh, I, I think many of your followers are probably familiar with the idea that AI, besides carrying out a conversation, uh, AI systems also can generate images and videos.

People might have used DALL-E or Sora to generate, you know, nice images just from a English description or, uh, or a video or something like that.

And the fundamental AI, uh, that's powering those things is something called a, a diffusion model.

And diffusion models, uh, again, are a wonderfully elegant idea in computer science, um, where you start with a completely noisy image.

Oh.

Mm

... um, when it comes to deploying AI systems.

So you'll have the frontier model companies, you'll have the systems developers, you'll then have the companies that might be deploying them, and then you'll have the users themselves.

And the, you know, there'll be many more actors along the chain there.

And so trying to work out when something goes wrong, who is accountable, is very complex, and it's also made more complicated by the fact that these different actors are often in different jurisdictions which have different approaches to AI law.

I think the common law jurisdictions will, in time, start to give us some more clarity around this.

Particularly I think we're expecting a lot of litigation-

Yeah

Once it's launched, how is it controlled? What is its range?

For, for launch, uh, another term you'll hear is it's launched on rails, so it can be on a, off the back of the truck or, or on the ground.

Certainly highly portable.

And initially, what the drone needs is to get enough speed to maintain airborne flight.

The small petrol engine that drives it does not give it that initial speed, so it needs a, a short burst of something like rocket fuel, s- something more explosive just to get it moving.

Then once it's on an upward trajectory with the engine running, that is sufficient to keep it airborne.

And because of its shape with its basically a very wide flying wing, it has a very large surface area for the air to compress underneath and continue with lift.

What, what have we seen, Peter?

Mm

... we can't-- If we lose our customers in the winter, it's very difficult to regain them again in the summer.

So, um, you know, when I'm following [coughs] different podcasts from the States and stuff, and I see, you know, that, you know, markets stop at Thanksgiving and don't start again maybe till April.

For us, that, that, we just couldn't do that.

Like, we'd have to keep going.

If people go back to the supermarkets, they'll stay there.

So, [chuckles] so we need to keep them with us.

Absolutely.

Yeah.

Already.

You know, and it's only, it's only the, the start of December.

So like realistically, we're, we'll put on the plastic.

We'll hope that it dries out a bit, but you know, it, it's, it doesn't, it doesn't protect, you know, from moisture.

So like, we still would h- we'd have a lot of trouble in winter with, you know, mold, uh, on, on salads and stuff like that.

We pick them very heavily, um, to make sure the plants stay really small.

Too wet and too cold.