Meta’s Prediction Market App, Europe vs. Big Tech, and Hollywood’s Comeback

So, uh, hands down the biggest trend is the creator economy.

There's 500 here this year.

There were 400 last year.

It used to be ab- It's sort of ironic that this is meant to be a gathering.

It's 13,000 people from 90 countries.

It's meant to be a gathering to celebrate the industry, but the industry hasn't yet recognized they're no longer the protagonist, and that the industry, if you think of it in the means of production, talent used to command 10 or 15% of the total revenue.

Because in between there were these means of production or moats.

An ad agency, uh, distribution, a studio, makeup, unions, a cable going into people's homes.

And now people with these few platforms that command a disproportionate margin, they do really well.

But you have thousands, it's no longer Madison Avenue, it's a bunch of studios, and the celebrities here are no longer...

When I used to come here, Maurice Levy, Martin Sorrell, John Wren, they owned the Closet.

Now it's some creator who's talking about food, you know? So it's, it really has, there's a distribution from institutions to individuals.

Uh, AI, last year was what do we do with AI? Now it's how do we organize a company around AI and how do we get an ROI there?

Mm-hmm.

I think there's been, people have come to the conclusion that AI is all chip and no salsa, and that creativity's never been more important.

Where social media takes people to the extremes, AI takes everyone to the middle, and it's very moderated, and so creativity's never been more important.

Remember, AI was gonna produce commercials.

There's more designers now at IBM as a percentage of their employment in creatives than there was last year, so creativity appears to have made a comeback.

Yeah, I have noticed the sort of falloff in the AI dementia that was here last year.

Yeah.

You know, it's really, I mean, it's, that, that's everywhere actually when every- everyone's sort of coming to the conclusion that they're not really clear w- what efficacy this stuff has, instead of having to...

I mean, the drone show did do A- AI, and it was, it was not AI, it was, it wasn't artificial intelligence, it was something else.

They had another word.

Uh, what it was? Art and intelligence instead of artificial intelligence.

[laughs]