00:37:50 · S3
[00:37:50] S3: Yeah, no, I was I was gonna ask if you could play that out like two years forward, you know, taking your AI crystal ball that we all you know have or purport to have. What happens when more and more calls become expert, uh AI generated? There's a limited supply of experts, um, you know, that the data becomes commoditized in its own way. Like, what does it do to alpha? What does it do to um the like the supply of experts, the cost of information?
00:38:22 · Sagar Kadakia
[00:38:22] S0: Yeah, that's a good question. Um I'm gonna give you guys like an example of of why this works. Um qualitate is in the business of generating net new information, right? That's what we do, right? We we we give people information that they can only get from talking to people, right? That's what primary research is. That's what that's what qualitate does. Um here's how this works in the in the qualitate world. Let's say uh you you have uh the qualitate API, you pulled out a bunch of, I don't know, cybersecurity uh discussions. Um historically, it has ended there. And so uh, Brett Caughran, I would agree with you from that standpoint where it's like, hey, if everyone's just pulling the exact same data, uh uh the value of that data may diminish. What happens now in the qualitate world, and what I'm seeing now, they pull down information into their into their warehouse, they commingle it with all the other information that they have, and everyone has different information. A set of questions get generated. Those questions will be different on every firm because the context is different. That passes into the interviewer, and now the interviewer captures information that is net new, that has never existed based on the gaps of what it just analyzed. And so, in a world of AGI, which is kind of what you were explaining, which is what we are moving towards, the value of any service where there's a human in the loop is going to massively accelerate, which is what expert calls are. There is a human in the loop, right, involved, right? Even if it's just on on one side. And so the AI interviewer allows you to capture net new information continuously. And that information is yours. That never gets fed back into the core library. So that's something very important that we should we should highlight, which is all of our clients are building their own libraries on top of Qualitate. We never share anyone else's transcripts. We don't have to, right? And so from that perspective, there's always alpha that's able. And then which companies can continuously generate more questions? Because Qualitate can use its AI interviewer to answer those questions. And so that is why I think that every firm can generate as much alpha as they want.
00:40:35 · Sagar Kadakia, S3
It's just how fast are your systems internally able to aggregate lots of information, generate questions, push it to Qualitate, get those answers back, and then make a decision on what to do, right? Do you have that infrastructure built? That's what people are building today. [00:40:58] S3: Like even like as today, or living ahead. It would be a good problem for you to have. [00:41:04] S0: Yeah, it would. I I actually think uh the the population of experts is increasing uh because we've now made it a marketplace. So I think about like, for example, like pre-Uber, uh you got to call a taxi dispatcher, and there was definitely like a limited number of cabs. Now, I mean, anyone can be an Uber driver, right? Because you could do it on your own time, your own schedule, all these types of things, right? Um, there's there's you don't need like a $2 million medallion or whatever it is, right, to ultimately, ultimately drive. And so the and not everyone can take a call tomorrow at 3 p.m. during work, right? And so actually the pool was quite finite uh because all the restrictions in place, right? Now those restrictions are no longer in place. And so the pool of experts is actually dramatically higher, um uh, which is uh why the the addressable market is going to substantially increase, right? What's qualitate doing? Qualitate is making primary research faster and cheaper. What happens when you make things faster and cheaper? People want more of it.
00:41:04 · Sagar Kadakia, S3
[00:41:04] S0: Yeah, it would. I I actually think uh the the population of experts is increasing uh because we've now made it a marketplace. So I think about like, for example, like pre-Uber, uh you got to call a taxi dispatcher, and there was definitely like a limited number of cabs. Now, I mean, anyone can be an Uber driver, right? Because you could do it on your own time, your own schedule, all these types of things, right? Um, there's there's you don't need like a $2 million medallion or whatever it is, right, to ultimately, ultimately drive. And so the and not everyone can take a call tomorrow at 3 p.m. during work, right? And so actually the pool was quite finite uh because all the restrictions in place, right? Now those restrictions are no longer in place. And so the pool of experts is actually dramatically higher, um uh, which is uh why the the addressable market is going to substantially increase, right? What's qualitate doing? Qualitate is making primary research faster and cheaper. What happens when you make things faster and cheaper? People want more of it. [00:42:06] S3: But wouldn't something like uh, I don't know, an SVP of cybersecurity uh with 20 years of experience, like the supply of that's fixed.
00:42:06 · S3, Sagar Kadakia
[00:42:06] S3: But wouldn't something like uh, I don't know, an SVP of cybersecurity uh with 20 years of experience, like the supply of that's fixed. [00:42:16] S0: Yes, I maybe. I mean, there's there's lots of cybersecurity professionals. Uh, and you could definitely, I mean, you could definitely make an argument there are uh more cybersecurity experts that would participate if they could participate anytime they wanted to, versus just nine to five on a traditional model, right? That's for sure, right? I think that's that would be undebatable. And so that's kind of how I see uh the world, which is now everyone who's an uh SVP of cybersecurity can participate versus before it was a very limited pool of people within that that could actually participate because again, you got to do the call nine to five, you got to want to talk to someone on a phone, does your schedule map up with that other person's schedule? All those things, right, that created a barrier, right? And so two things happened. One is the pool of experts is small. And then two, what's actually the real population of people that have actually even done an expert call with an SVP of security? Probably some fraction of them, right? Because it's costly, it's expensive, it's hard to justify. Now move to qualitate, right? Calls are a third of the price. They happen in in days and hours. There's no scheduling, and the pool of experts is much larger because now they can participate whenever they want to.
00:43:30 · Brett Caughran
[00:43:30] S1: Why why not build a build a corpus? Not necessarily of channel checks, which sort of like the hey, how's the quarter shaking out? It's going to have a pretty fast decay rate. But, you know, hey, former CFO of this company, let me ask you 64 deep dive questions on how this industry operates, et cetera. Yeah, that has a longer shelf life. And if I'm trying to get up to speed on an industry and I can steer my agent right away towards a deep corpus of those, you know, sort of deep insights, that's a that's a really powerful. Up to speed motion, and you do that once and monetize this across clients.