38:11The talk argues that 2024 disproved the idea that AI value would accrue only to foundation model companies: startups have built valuable applications, and open source and model choice have created room to compete. It describes how model routing has evolved into using and orchestrating multiple models for different tasks, while better infrastructure has made AI agents useful in real enterprise deployments. The speakers also discuss faster startup growth, vertical AI and voice applications, robotics, AI coding tools, and the return of in-person work and events. They close by noting that regulation and platform power remain open questions even as the year has favored startups.
